119th Congress Finance and Financial Sector
S. 401: Fair Access to Banking Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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.
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
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- John Boozman R-AROriginal
- Marsha Blackburn R-TNOriginal
- John Barrasso R-WYOriginal
- Jim Banks R-INOriginal
- Ted Budd R-NCOriginal
- Katie Britt R-ALOriginal
- Michael Crapo R-IDOriginal
- Shelley Capito R-WVOriginal
- John Cornyn R-TXOriginal
- Bill Cassidy R-LAOriginal
- Tom Cotton R-AROriginal
- Ted Cruz R-TXOriginal
- John Curtis R-UTOriginal
- Steve Daines R-MTOriginal
- Joni Ernst R-IAOriginal
- Deb Fischer R-NEOriginal
- Lindsey Graham R-SCOriginal
- Bill Hagerty R-TNOriginal
- John Hoeven R-NDOriginal
- Cindy Hyde-Smith R-MSOriginal
- Ron Johnson R-WIOriginal
- Jim Justice R-WVOriginal
- John Kennedy R-LAOriginal
- Cynthia Lummis R-WYOriginal
- James Lankford R-OKOriginal
- Jerry Moran R-KSOriginal
- Markwayne Mullin R-OKOriginal
- Roger Marshall R-KSOriginal
- Bernie Moreno R-OHOriginal
- Dave McCormick R-PAOriginal
- James Risch R-IDOriginal
- Pete Ricketts R-NEOriginal
- Tim Scott R-SCOriginal
- Dan Sullivan R-AKOriginal
- Rick Scott R-FLOriginal
- Eric Schmitt R-MOOriginal
- Tim Sheehy R-MTOriginal
- Tommy Tuberville R-ALOriginal
- Thom Tillis R-NCOriginal
- Roger Wicker R-MSOriginal
- Ashley Moody R-FL
- Jon Husted R-OH
- Joshua Hawley R-MO
- Charles Grassley R-IA
- Mitch McConnell R-KY
- Darline Graham Nordone R-SC
- Todd Young R-IN
Who scored on this bill
- 1Kevin Cramer SponsorReached a cosponsor milestone, introduced2 events+6
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Kevin Cramer
- S. 829: Commander Delbert Austin Olson Post Office (Casselton, ND)
- S.J.Res. 62: Disapproval of Bureau of Land Management rule: North Dakota Field Office Record of Decision and Approved Resource Management Plan
- S. 4404: Commander Delbert Austin Olson Post Office (Casselton, ND)
- S. 3880: FASTA Reform Act of 2024
- S.J.Res. 61: Disapproval of Federal Highway Administration rule: National Performance Management Measures; Assessing Performance of the National Highway System, Greenhouse Gas Emissions Measure
History
- Introduced in the Senate by Kevin Cramer.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.