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118th Congress Finance and Financial Sector

H.R. 2743: Fair Access to Banking Act

Introduced

  1. Introduced (completed)Apr 20, 2023
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Apr 20, 2023

This bill places restrictions on certain banks, credit unions, and payment card networks if they refuse to do business with a person who complies with the law. Restrictions include prohibiting the use of electronic funds transfer systems and lending programs, termination of an institution's depository insurance, and specified civil penalties.

Banks and other specified financial institutions are allowed to deny financial services to a person only if the denial is justified by a documented failure of that person to meet quantitative, impartial, risk-based standards established in advance by the institution. This justification may not be based upon reputational risks to the institution. Banks may also deny services to a person who engaged in rude or harassing conduct toward an employee of the bank.

The bill establishes the right for a person to bring a civil action for a violation of this bill.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

126

Who scored on this bill

18 points earned
  1. 1Garland Barr R-KY SponsorReached a cosponsor milestone, introduced4 events+18
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Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Garland Barr

History

  1. Apr 20, 2023Introduced in the House by Garland Barr.
Show the full action history (2 actions)
  1. Apr 20, 2023Introduced in House
  2. Apr 20, 2023Referred to the House Committee on Financial Services.