HR 1729
Fair Access to Banking Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Fair Access to Banking Act aims to prevent banks and other financial service providers from denying financial services to compliant businesses based on political considerations or subjective evaluations. It prohibits these institutions from using taxpayer-funded discount window lending programs if they refuse to do business with law-abiding customers. The bill also establishes a presumption that banks with over $10 billion in assets are ‘covered banks’ and subject to stricter risk management standards, and includes provisions for payment card networks and credit unions to ensure fair access to financial services. It seeks to protect lawful businesses from discriminatory practices and promote equitable access to financial services under the law.
Sponsors
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Primary sponsor
Cosponsors
A. Drew, IV Ferguson
Alexander X. Mooney
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