A resolution designating June 12, 2023, as "Women Veterans Appreciation Day".
- Last Action
- 7/12/2023
Actions
- 2023-02-07Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2023-02-07Introduced in Senate
CRS Summary
As of 2023-02-07 (00)
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.
Cosponsors (20)
- Katie Britt (R-AL)
- Tommy Tuberville (R-AL)
- Dan Sullivan (R-AK)
- John Boozman (R-AR)
- Tom Cotton (R-AR)
- Marco Rubio (R-FL)
- Rick Scott (R-FL)
- Mike Crapo (R-ID)
- James Risch (R-ID)
- Mike Braun (R-IN)
- Joni Ernst (R-IA)
- Roger Marshall (R-KS)
- Jerry Moran (R-KS)
- Bill Cassidy (R-LA)
- John Kennedy (R-LA)
- Cindy Hyde-Smith (R-MS)
- Roger Wicker (R-MS)
- Eric Schmitt (R-MO)
- Steve Daines (R-MT)
- Deb Fischer (R-NE)
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.