S 3571
Banking for All Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Banking for All Act would require Federal Reserve member banks to offer digital dollar wallets to residents and businesses in the United States. These wallets would provide services similar to traditional bank accounts, including access to COVID-19 aid payments, without fees or minimum balance requirements. The bill also aims to expand access to banking services, particularly in underserved areas, by partnering with postal facilities and allowing state nonmember banks and credit unions to offer these accounts.
Sponsors
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Primary sponsor
Sherrod Brown
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