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Fair Access to Banking Act: Ending Financial Discrimination

This act aims to ensure that banks and other financial institutions do not deny access to services to individuals or businesses operating legally, even if their activities are politically unpopular. This means citizens and businesses should have equal access to loans, bank accounts, and other services, provided they meet objective financial criteria, not subjective biases. Financial institutions violating these rules may lose access to taxpayer-funded financial support programs.
Key points
Banks and financial institutions cannot deny services to legally operating businesses and individuals for political or reputational reasons.
Large banks violating these rules may lose access to taxpayer-funded Federal Reserve lending programs.
Citizens and businesses unlawfully denied services can sue the bank and seek damages, including triple damages and legal fees.
Financial institutions must assess customer risk based on objective financial data, not on business categories or personal biases.
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Expired
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Additional Information
Print number: 117_HR_1729
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2021-03-10
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Fair Access to Banking Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1729.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-10.

What are the main provisions?

Key points include:

  • Banks and financial institutions cannot deny services to legally operating businesses and individuals for political or reputational reasons.
  • Large banks violating these rules may lose access to taxpayer-funded Federal Reserve lending programs.
  • Citizens and businesses unlawfully denied services can sue the bank and seek damages, including triple damages and legal fees.
  • Financial institutions must assess customer risk based on objective financial data, not on business categories or personal biases.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Barr, Andy [R-KY-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Courts and Law