United States 118th Congress Status: In Committee 37 R cosponsors

S 293 — Fair Access to Banking Act

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

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

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.

Bill Text

How this bill changes current law

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Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill prohibits certain large financial institutions from accessing discount window lending programs if they deny fair access to financial services.

  • 12 U.S.C. 347b

    (c) Prohibition on Use of Discount Window Lending Programs.--No member bank with more than $10,000,000,000 in total consolidated assets, or subsidiary of the member bank, may use a discount window lending program if the member bank or subsidiary refuses to do business with any person who is in compliance with the law, including section 8 of the Fair Access to Banking Act.

    Adds a prohibition for larger member banks from using discount window lending if they deny services to compliant individuals.

  • 12 U.S.C. 1818(a)(2)(A)

    or → or an insured depository institution with more than $10,000,000,000 in total consolidated assets, or subsidiary of the insured depository institution, that refuses to do business with any person who is in compliance with the law, including section 8 of the Fair Access to Banking Act.

    Expands the definition of institutions subject to involuntary termination of insurance to include larger depository institutions that deny access to compliant persons.

  • 12 U.S.C. 342

    Provided further, That no such nonmember bank or trust company or other depository institution with more than $10,000,000,000 in total consolidated assets, or subsidiary of such nonmember bank or trust company or other depository institution, may refuse to do business with any person who is in compliance with the law, including section 8 of the Fair Access to Banking Act:

    Imposes a similar prohibition on nonmember banks regarding denying services to individuals in compliance with the law.

  • 12 U.S.C. 1786

    or is refusing or has refused, or has a subsidiary that is refusing or has refused, to do business with any person who is in compliance with the law, including section 8 of the Fair Access to Banking Act,

    Mandates that insured credit unions cannot refuse to do business with compliant individuals under similar conditions.

  • Automated Clearing House Network

    No covered credit union, member bank, or State-chartered non-member bank with more than $10,000,000,000 in total consolidated assets, or a subsidiary of the covered credit union, member bank, or State-chartered non-member bank, may use the Automated Clearing House Network if that member bank, credit union, or subsidiary of the member bank or credit union, refuses to do business with any person who is in compliance with the law, including section 8 of this Act.

    Prohibits certain large institutions from using the Automated Clearing House Network if they deny services to compliant persons.

Action History

  1. Introduced in Senate

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

Sponsors

Sponsorship breakdown

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1 sponsors · 36 co-sponsors · 510 not signed on

Sponsors (1)

Co-sponsors (36)

Not signed on (510)

510 members have not signed on to this bill.

Show all 510 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S 293 do?
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.
Who sponsors S 293?
S 293 is sponsored by Cramer, Kevin (Republican), Britt, Katie Boyd (Republican), Tuberville, Tommy (Republican), Sullivan, Dan (Republican), Boozman, John (Republican), Cotton, Tom (Republican), Rubio, Marco (Republican), Scott, Rick (Republican), Crapo, Mike (Republican), Risch, James E. (Republican), Braun, Mike (Republican), Ernst, Joni (Republican), Marshall, Roger (Republican), Moran, Jerry (Republican), Cassidy, Bill (Republican), Kennedy, John (Republican), Hyde-Smith, Cindy (Republican), Wicker, Roger F. (Republican), Schmitt, Eric (Republican), Daines, Steve (Republican), Fischer, Deb (Republican), Ricketts, Pete (Republican), Tillis, Thomas (Republican), Hoeven, John (Republican), Vance, J. D. (Republican), Lankford, James (Republican), Mullin, Markwayne (Republican), Graham, Lindsey (Republican), Scott, Tim (Republican), Blackburn, Marsha (Republican), Hagerty, Bill (Republican), Cornyn, John (Republican), Cruz, Ted (Republican), Capito, Shelley Moore (Republican), Johnson, Ron (Republican), Barrasso, John (Republican), and Lummis, Cynthia M. (Republican).
What is the current status of S 293?
This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 293?
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