S401Referred to Committee

Fair Access to Banking Act

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-02-04
Introduced
46
Cosponsors
S
ⓘ
Type

Sponsor

Kevin Cramer
Kevin Cramer
Republican · ND · Senator
Votes with party: 76.0% (859 recorded votes)

Full profile: /officials/C001096

Source: Congress.gov · FEC

Cosponsors (46)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

46 cosponsors on record at Congress.gov. The named list is syncing into Govwatch and will appear here shortly — view on Congress.gov in the meantime.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

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

2025-02-04

Source: Congress.gov

Committee Activity

Previously

Plain-English Summary

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.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Finance and Financial Sector
Full bill text is not yet cached locally.
Open text viewRead on Congress.gov

Related legislation

Bills by the same sponsor or covering overlapping subjects.