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Fair Access to Banking Act

S. 401 Sen. Kevin Cramer (R-ND) In committee
Bill text PDF
  1. Introduced Feb 4
  2. Committee Feb 4
  3. Passed Senate Next
  4. Passed House Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Feb 4, 2025Next: Senate vote
630d ago Feb 4, 2025: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
5companies, 34 filings
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Member trades
10trades in the last 90 days
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Companies lobbying on this bill

5 companies
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Financials 3Industrials 1Real Estate 1
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Summary

Fair Access to Banking Act

Full summary3 paragraphs

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.

Library of Congress summary, Feb 4, 2025

Summary versions
  • Introduced in SenateFeb 4, 2025

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.