arrow_back Back to App

Fair Access to Banking Act: Ending Financial Discrimination

This act aims to ensure that banks and other financial institutions do not deny services to lawful businesses and individuals for political or subjective reasons. This means access to loans, bank accounts, or payment cards will be based solely on financial risk assessment, not personal biases. If a bank denies service without justified reasons, citizens will be able to seek legal recourse.
Key points
Banks and large financial institutions (over $50 billion in assets) will be prohibited from denying services to lawful entities if they wish to use government-funded financial support programs.
Payment card networks cannot block access to their services due to political or reputational risks, under penalty of significant financial fines.
Citizens and businesses denied financial services without justified reasons will be able to sue the bank and seek damages, including legal fees and treble damages.
Banks must assess customer risk individually, based on financial data, rather than on broad categories of business that may be politically unpopular.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_987
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2025-02-05
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

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 119_HR_987.

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 2025-02-05.

What are the main provisions?

Key points include:

  • Banks and large financial institutions (over $50 billion in assets) will be prohibited from denying services to lawful entities if they wish to use government-funded financial support programs.
  • Payment card networks cannot block access to their services due to political or reputational risks, under penalty of significant financial fines.
  • Citizens and businesses denied financial services without justified reasons will be able to sue the bank and seek damages, including legal fees and treble damages.
  • Banks must assess customer risk individually, based on financial data, rather than on broad categories of business that may be politically unpopular.
What is the specific legal status?

The current status is Introduced.

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 2025-12-23.

CATEGORIES

Economy Courts and Law