S. 293 · 118th Congress
Fair Access to Banking Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CramerSponsor36 cosponsors · 36 R
R
Boozman
MB
R
Blackburn
JB
R
Barrasso
MB
R
Braun
KB
R
Britt
MC
R
Crapo
SC
R
Capito
JC
R
Cornyn
BC
R
Cassidy
TC
R
Cotton
TC
R
Cruz
SD
R
Daines
JE
R
Ernst
DF
R
Fischer
LG
R
Graham
BH
R
Hagerty
JH
R
Hoeven
CH
R
Hyde-Smith
RJ
R
Johnson
JK
R
Kennedy
CL
R
Lummis
JL
R
Lankford
JM
R
Moran
MM
R
Mullin
RM
R
Marshall
JR
R
Risch
MR
R
Rubio
PR
R
Ricketts
TS
R
Scott
DS
R
Sullivan
RS
R
Scott
ES
R
Schmitt
TT
R
Tuberville
TT
R
Tillis
JD
R
Vance
RW
R
Wicker36 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill places restrictions on certain banks, credit unions, and payment card networks if they refuse to do business with a person who complies with the law. Restrictions include prohibiting the use of electronic funds transfer systems and lending programs, termination of an institution's depository insurance, and specified civil penalties.
What it does: CRS summary · Introduced in Senate · Feb 7, 2023
Fair Access to Banking Act
This bill places restrictions on certain banks, credit unions, and payment card networks if they refuse to do business with a person who complies with the law. Restrictions include prohibiting the use of electronic funds transfer systems and lending programs, termination of an institution's depository insurance, and specified civil penalties.
Banks and other specified financial institutions are allowed to deny financial services to a person only if the denial is justified by a documented failure of that person to meet quantitative, impartial, risk-based standards established in advance by the institution. This justification may not be based upon reputational risks to the institution.
The bill establishes the right for a person to bring a civil action for a violation of this bill.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Fair Access to Banking Act
Latest action (Feb 7, 2023): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Feb 7, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.