Financial Access Protection Act

Angela D. Alsobrooks

Democrat · MD · Senator

Source: Congress.gov · FEC

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2026-04-30

Source: Congress.gov

Banks and other financial institutions would be banned from collecting, keeping, or sharing information about whether their customers are citizens or what their immigration status is. This would affect millions of people who use banking services and could limit how financial companies verify customer identity or comply with federal regulations. The measure is currently under review by the Senate Banking Committee.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4450 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4450 To prohibit covered financial institutions from collecting, maintaining, and disclosing information relating to the citizenship status and immigration status of consumers, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES April 30, 2026 Ms. Alsobrooks introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To prohibit covered financial institutions from collecting, maintaining, and disclosing information relating to the citizenship status and immigration status of consumers, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Financial Access Protection Act''. SEC. 2. DEFINITIONS. In this Act: (1) Appropriate federal banking agency; insured depository institution.--The terms ``appropriate Federal banking agency'' and ``insured depository institution'' have the meanings given the terms in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). (2) Bank secrecy act.--The term ``Bank Secrecy Act'' has the meaning given the term in section 6003 of the Anti-Money Laundering Act of 2020 (31 U.S.C. 5311 note). (3) Consumer reporting agency.--The term ``consumer reporting agency'' has the meaning given the term in section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a). (4) Covered financial institution.--The term ``covered financial institution'' means-- (A) an insured depository institution; (B) an insured credit union or any credit union regulated by the National Credit Union Administration; (C) a consumer reporting agency; (D) a national bank or Federal savings association supervised by the Office of the Comptroller of the Currency; (E) a State member bank supervised by the Board of Governors of the Federal Reserve System; (F) a State nonmember bank supervised by the Federal Deposit Insurance Corporation; (G) a bank holding company or savings and loan holding company supervised by the Board of Governors of the Federal Reserve System; and (H) a subsidiary or affiliate thereof that is subject to examination or supervision by a Federal banking agency. (5) Insured credit union.--The term ``insured credit union'' has the meaning given the term in section 101 of the Federal Credit Union Act (12 U.S.C. 1752). SEC. 3. PROHIBITION ON COLLECTION OF CITIZENSHIP OR IMMIGRATION STATUS INFORMATION. (a) In General.--Notwithstanding any other provision of law, a covered financial institution may not-- (1) require a consumer or prospective consumer to disclose their citizenship status or immigration status as a condition of opening, maintaining, or accessing an account or financial service offered by such covered financial institution; (2) request, collect, record, retain, maintain, or otherwise obtain information relating to the citizenship status or immigration status of a consumer; or (3) transmit, report, disclose, or otherwise make available information relating to the citizenship status or immigration status of a consumer available to any Federal agency or other governmental entity. (b) Prohibition on Regulatory Action.--No appropriate Federal banking agency may, by regulation, rule, order, guidance, supervisory expectation, examination procedure, informal request, or otherwise-- (1) require or encourage a covered financial institution to collect or maintain information regarding the citizenship status or immigration status of a consumer; or (2) condition supervisory ratings, enforcement decisions, approvals, or other regulatory determinations on the collection or reporting of information about the citizenship status or immigration status of a consumer. (c) Enforcement.--Each appropriate Federal banking agency shall enforce this section with respect to covered financial institutions. (d) Rule of Construction.--Nothing in this section may be construed to-- (1) alter or…

limit the any obligations a covered financial institution has under the Bank Secrecy Act; or (2) prevent covered financial institutions from complying with Federal, State, or local reporting requirements relating to the prevention of financial crimes including money laundering, terrorist financing, compliance with sanctions. <all>

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