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US HR2743

US HR2743
Fair Access to Banking Act


summary

Introduced
04/20/2023
In Committee
04/20/2023
Crossed Over
Passed
Dead
01/03/2025

Introduced Session

118th Congress

Bill Summary

A BILL To amend the Federal Reserve Act to prohibit certain financial service providers who deny fair access to financial services from using taxpayer funded discount window lending programs, and for other purposes.

AI Summary

This bill, the Fair Access to Banking Act, aims to ensure fair access to financial services and fair treatment of customers by financial service providers, including banks, federal savings associations, and credit unions. The key provisions are: 1. Prohibiting financial institutions with over $100 billion in assets from using taxpayer-funded discount window lending programs if they refuse to do business with any person who is in compliance with the law, including this Act. 2. Prohibiting payment card networks from prohibiting or inhibiting the ability of any person in compliance with the law to access their services or products due to political or reputational risk considerations. 3. Allowing persons denied financial services by covered banks (those with the ability to significantly impact a person's access to financial services) to file civil lawsuits and seek treble damages if the bank's denial is not justified by quantitative, impartial risk-based standards. 4. Requiring covered banks to make financial services available to all persons in their geographic market on proportionally equal terms and provide written justification for any denials that cannot be based solely on reputational risk.

Committee Categories

Business and Industry

Sponsors (127)

Andy Barr (R)* Mark Alford (R),  Rick Allen (R),  Mark Amodei (R),  Jodey Arrington (R),  Brian Babin (R),  Don Bacon (R),  Jim Baird (R),  Jim Banks (R),  Aaron Bean (R),  Jack Bergman (R),  Stephanie Bice (R),  Andy Biggs (R),  Dan Bishop (R),  Lauren Boebert (R),  Mike Bost (R),  Larry Bucshon (R),  Tim Burchett (R),  Eric Burlison (R),  Ken Calvert (R),  Kat Cammack (R),  Mike Carey (R),  Buddy Carter (R),  Lori Chavez-DeRemer (R),  Ben Cline (R),  Andrew Clyde (R),  James Comer (R),  Rick Crawford (R),  Dan Crenshaw (R),  John Curtis (R),  Anthony D'Esposito (R),  Monica De La Cruz (R),  Scott DesJarlais (R),  Byron Donalds (R),  Jeff Duncan (R),  Neal Dunn (R),  Chuck Edwards (R),  Tom Emmer (R),  Ron Estes (R),  Pat Fallon (R),  Randy Feenstra (R),  Drew Ferguson (R),  Brad Finstad (R),  Michelle Fischbach (R),  Scott Fitzgerald (R),  Chuck Fleischmann (R),  Virginia Foxx (R),  Scott Franklin (R),  Russell Fry (R),  Russ Fulcher (R),  Carlos Giménez (R),  Tony Gonzales (R),  Lance Gooden (R),  Paul Gosar (R),  Sam Graves (R),  Mark Green (R),  Morgan Griffith (R),  Andy Harris (R),  Diana Harshbarger (R),  Kevin Hern (R),  Clay Higgins (R),  French Hill (R),  Ashley Hinson (R),  Erin Houchin (R),  Richard Hudson (R),  Bill Huizenga (R),  Darrell Issa (R),  Ronny Jackson (R),  Dusty Johnson (R),  John Joyce (R),  Jen Kiggans (R),  Doug LaMalfa (R),  Doug Lamborn (R),  Nick Langworthy (R),  Bob Latta (R),  Jake LaTurner (R),  Laurel Lee (R),  Debbie Lesko (R),  Blaine Luetkemeyer (R),  Tracey Mann (R),  Lisa McClain (R),  Dan Meuser (R),  Carol Miller (R),  Max Miller (R),  Cory Mills (R),  John Moolenaar (R),  Alex Mooney (R),  Barry Moore (R),  Blake Moore (R),  Greg Murphy (R),  Troy Nehls (R),  Dan Newhouse (R),  Ralph Norman (R),  Zach Nunn (R),  Andy Ogles (R),  Scott Perry (R),  August Pfluger (R),  Bill Posey (R),  Guy Reschenthaler (R),  Hal Rogers (R),  Mike Rogers (R),  John Rose (R),  David Rouzer (R),  John Rutherford (R),  Austin Scott (R),  Pete Sessions (R),  Mike Simpson (R),  Adrian Smith (R),  Victoria Spartz (R),  Pete Stauber (R),  Elise Stefanik (R),  Greg Steube (R),  Dale Strong (R),  Claudia Tenney (R),  Tom Tiffany (R),  William Timmons (R),  David Valadao (R),  Beth Van Duyne (R),  Ann Wagner (R),  Tim Walberg (R),  Michael Waltz (R),  Brad Wenstrup (R),  Roger Williams (R),  Joe Wilson (R),  Rob Wittman (R),  Rudy Yakym (R),  Ryan Zinke (R), 

Last Action

Referred to the House Committee on Financial Services. (on 04/20/2023)

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