Fair Access to Banking Act
Latest action (Feb 4, 2025) — Read twice and on Banking, Housing, and Urban Affairs.
What it does
Congressional Research Service, Feb 4, 2025This 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.
Face Value
as introducedHow much of this bill its name accounts for.
- Every bill starts at100
- Nothing counted against it: one area of law, and short enough that length doesn't register.
Face Value measures reach, not honesty. A big bill can be accurately named, and a low score is not an accusation — it means the contents reach further than any short title could describe. Count it yourself ↗ How this is worked out
Who lobbied on this
5 organizationsThese organizations told Congress, in their own quarterly disclosures, that they were lobbying on this bill.
- Aca Internationalno position stated
“H.R.987 Fair Access to Banking Act S.401 Fair Access to Banking Act H.R.270 FIRM Act Issues related to debanking” filing ↗
- Citizens Financial Group, Inc.no position stated
“…Matters relating to AI in financial services. H.R. 987/S. 401, Fair Access to Banking Act. Matters relating to capital and liquidity.” filing ↗
- Corecivic, Inc.no position stated
“…H.R. 987/S. 401 - Fair Access to Banking Act. CORECIVIC, INC. DOES NOT LOBBY FOR OR AGAINST ANY POLICIES OR LEGISLATION THAT WOULD DETERMINE THE BASIS FOR AN…” filing ↗
- National Rifle Association of Americano position stated
“S.401 H.R. 1181 H.R. 987” filing ↗
- The Geo Group, Inc.no position stated
“…S. 401 and H.R. 987, Fair Access to Banking Act. Note: GEO's political and governmental relations activities focus on promoting the use of…” filing ↗
Most filings say only that an organization lobbied on a bill, not which side it took — where that's the case we say so rather than guessing. Quotes are verbatim from the filing. How this is built.
Discussion
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