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119-s-4450119th CongressWALLET

Financial Access Protection Act

Sponsored By: Senator Alsobrooks, Angela D. [D-MD]

Introduced

Summary

Prohibits covered financial institutions from collecting or sharing customers' citizenship or immigration status. This bill would bar banks, credit unions, consumer reporting agencies, holding companies, and supervised affiliates from requesting, recording, retaining, or disclosing that information as a condition of opening, maintaining, or accessing accounts or services.

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  • Consumers: People seeking bank accounts or credit reporting services would not be required to disclose citizenship or immigration status to open or use accounts, and institutions could not share that information with federal or other government agencies.
  • Financial institutions: Banks and credit unions would be prohibited from collecting or keeping citizenship or immigration status data and from transmitting it to government entities. Covered consumer reporting agencies would face the same limits on data collection and sharing.
  • Regulators and enforcement: Federal banking agencies would be barred from requiring or encouraging such data collection in guidance, exams, ratings, or approvals and would enforce the ban. The bill also preserves existing anti-money laundering, Bank Secrecy Act, and other crime-reporting obligations.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 0 costs, 2 mixed.

Agencies would enforce but AML stays

If enacted, the bill would make the federal banking agencies responsible for enforcing the ban on collecting or sharing citizenship and immigration status by covered institutions. The bill would also prevent agencies from requiring or encouraging firms to collect that status information. At the same time, the bill would say the ban does not change banks' obligations under the Bank Secrecy Act and does not stop banks from meeting other federal, state, or local crime‑reporting or sanctions rules.

Which firms the ban would cover

If enacted, the bill would define which banks, credit unions, consumer reporting agencies, bank holding companies, savings associations, and their supervised affiliates must follow the ban. It would rely on existing legal definitions in the Federal Deposit Insurance Act, the Anti‑Money Laundering Act, the Fair Credit Reporting Act, and the Federal Credit Union Act. That definition decides which financial firms must stop collecting or sharing citizenship and immigration status. The scope therefore shapes who gets the new protections and which firms face new limits.

Banks could not ask immigration status

If enacted, covered banks, credit unions, and consumer reporting agencies would not be allowed to require you to disclose your citizenship or immigration status to open, keep, or use an account. They would not be allowed to request, collect, record, retain, or otherwise obtain that status information. They would also be barred from transmitting or reporting that status information to any Federal or other government agency. The bill would stop federal banking agencies from pressuring firms to collect this information or conditioning supervisory decisions on that collection.

Sponsors & CoSponsors

Sponsor

Alsobrooks, Angela D. [D-MD]

MD • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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