Fair Access to Banking Act

Sponsored bySen. Cramer, Kevin [R-ND]ND· Introduced 4 February 2025

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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

4 February 2025·1 year ago

Summary

Introduced in Senate · Updated 21 July 2025

Fair Access to Banking Act

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.

Timeline

2 actions

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
4 February 2025 · IntroReferral
Introduced in Senate
4 February 2025 · IntroReferral

Sponsorship

45 cosponsors

Sponsor

Sen. Cramer, Kevin [R-ND]ND

Cosponsors

Republican45100%

Republican:Sen. McConnell, Mitch [R-KY]KY
Republican:Sen. Grassley, Chuck [R-IA]IA
Republican:Sen. Hawley, Josh [R-MO]MO
Republican:Sen. Husted, Jon [R-OH]OH
Republican:Sen. Moody, Ashley [R-FL]FL
Republican:Sen. Justice, James C. [R-WV]WV
Republican:Sen. Moreno, Bernie [R-OH]OH
Republican:Sen. Cruz, Ted [R-TX]TX
Republican:Sen. Budd, Ted [R-NC]NC
Republican:Sen. Schmitt, Eric [R-MO]MO
Republican:Sen. Hagerty, Bill [R-TN]TN
Republican:Sen. Moran, Jerry [R-KS]KS
Republican:Sen. Kennedy, John [R-LA]LA
Republican:Sen. Britt, Katie Boyd [R-AL]AL
Republican:Sen. Capito, Shelley Moore [R-WV]WV
Republican:Sen. Scott, Rick [R-FL]FL
Republican:Sen. Wicker, Roger F. [R-MS]MS
Republican:Sen. Cornyn, John [R-TX]TX
Republican:Sen. Marshall, Roger [R-KS]KS
Republican:Sen. Mullin, Markwayne [R-OK]OK
Republican:Sen. Barrasso, John [R-WY]WY
Republican:Sen. Sullivan, Dan [R-AK]AK
Republican:Sen. Tillis, Thomas [R-NC]NC
Republican:Sen. Risch, James E. [R-ID]ID
Republican:Sen. Scott, Tim [R-SC]SC
Republican:Sen. McCormick, David [R-PA]PA
Republican:Sen. Cotton, Tom [R-AR]AR
Republican:Sen. Sheehy, Tim [R-MT]MT
Republican:Sen. Blackburn, Marsha [R-TN]TN
Republican:Sen. Tuberville, Tommy [R-AL]AL
Republican:Sen. Graham, Lindsey [R-SC]SC
Republican:Sen. Ernst, Joni [R-IA]IA
Republican:Sen. Crapo, Mike [R-ID]ID
Republican:Sen. Lummis, Cynthia M. [R-WY]WY
Republican:Sen. Lankford, James [R-OK]OK
Republican:Sen. Ricketts, Pete [R-NE]NE
Republican:Sen. Daines, Steve [R-MT]MT
Republican:Sen. Johnson, Ron [R-WI]WI
Republican:Sen. Boozman, John [R-AR]AR
Republican:Sen. Curtis, John R. [R-UT]UT
Republican:Sen. Banks, Jim [R-IN]IN
Republican:Sen. Cassidy, Bill [R-LA]LA
Republican:Sen. Hyde-Smith, Cindy [R-MS]MS
Republican:Sen. Fischer, Deb [R-NE]NE
Republican:Sen. Hoeven, John [R-ND]ND

Classification

Policy area

Finance and Financial Sector

Cosponsor momentum

Cumulative over time

Track Fair Access to Banking Act as it moves through Congress