Fair Access to Banking Act
Sponsored By: Senator Cramer, Kevin [R-ND]
Introduced
Summary
Guarantees fair, impartial access to basic financial services. This bill would limit when banks, credit unions, and payment networks can refuse to serve a person who is acting lawfully by requiring denials to rest on documented, quantitative, risk-based standards and by creating penalties and a private lawsuit tool for violations.
Show full summary
- Large banks would face limits on Federal Reserve discount window access and Automated Clearing House network use if they refuse to serve lawful customers without objective, pre-established risk reasons. Covered banks are presumed to be those with more than $10.0 billion in assets.
- Payment card networks and credit unions would be barred from blocking access based on political or reputational risk. Card networks face civil penalties up to 10% of the value of affected services or $10,000 per violation.
- Individuals and businesses denied services in violation of the bill would get a private right of action in federal court. Successful plaintiffs could recover attorney fees, costs, and treble damages.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
New private right to sue banks
If enacted, any person could sue a covered bank or covered credit union in federal court for a fair-access violation. You would not have to go through agency steps first. A winning plaintiff could get reasonable lawyer fees, court costs, and three times the damages.
New fair-access rules for big banks
If enacted, banks with $10 billion or more in assets would usually be treated as "covered banks." Covered banks would have to offer each financial service to people in their market on proportionally equal terms. Banks could only deny service for written, pre-set, quantified risk reasons and could not deny service solely for reputational concerns. A bank at or above $10 billion could try to rebut the covered presumption by sending written materials to the Office of the Comptroller of the Currency.
Card networks banned from political cutoffs
If enacted, payment card networks could not block or limit access for people who follow the law because of political or reputational risk. The Comptroller of the Currency could fine a network up to 10% of the value at issue, but not more than $10,000 per violation.
Sponsors & CoSponsors
Sponsor
Cramer, Kevin [R-ND]
ND • R
Cosponsors
Sen. Banks, Jim [R-IN]
IN • R
Sponsored 2/4/2025
Sen. Barrasso, John [R-WY]
WY • R
Sponsored 2/4/2025
Sen. Blackburn, Marsha [R-TN]
TN • R
Sponsored 2/4/2025
John Boozman
AR • R
Sponsored 2/4/2025
Katie Britt
AL • R
Sponsored 2/4/2025
Sen. Budd, Ted [R-NC]
NC • R
Sponsored 2/4/2025
Shelley Capito
WV • R
Sponsored 2/4/2025
Sen. Cassidy, Bill [R-LA]
LA • R
Sponsored 2/4/2025
Sen. Cornyn, John [R-TX]
TX • R
Sponsored 2/4/2025
Sen. Cotton, Tom [R-AR]
AR • R
Sponsored 2/4/2025
Sen. Crapo, Mike [R-ID]
ID • R
Sponsored 2/4/2025
Sen. Cruz, Ted [R-TX]
TX • R
Sponsored 2/4/2025
Sen. Curtis, John R. [R-UT]
UT • R
Sponsored 2/4/2025
Sen. Daines, Steve [R-MT]
MT • R
Sponsored 2/4/2025
Sen. Ernst, Joni [R-IA]
IA • R
Sponsored 2/4/2025
Sen. Fischer, Deb [R-NE]
NE • R
Sponsored 2/4/2025
Sen. Graham, Lindsey [R-SC]
SC • R
Sponsored 2/4/2025
Bill Hagerty
TN • R
Sponsored 2/4/2025
John Hoeven
ND • R
Sponsored 2/4/2025
Cindy Hyde-Smith
MS • R
Sponsored 2/4/2025
Ron Johnson
WI • R
Sponsored 2/4/2025
Sen. Justice, James C. [R-WV]
WV • R
Sponsored 2/4/2025
Sen. Kennedy, John [R-LA]
LA • R
Sponsored 2/4/2025
Sen. Lankford, James [R-OK]
OK • R
Sponsored 2/4/2025
Sen. Lummis, Cynthia M. [R-WY]
WY • R
Sponsored 2/4/2025
Sen. Marshall, Roger [R-KS]
KS • R
Sponsored 2/4/2025
Sen. McCormick, David [R-PA]
PA • R
Sponsored 2/4/2025
Sen. Moran, Jerry [R-KS]
KS • R
Sponsored 2/4/2025
Sen. Moreno, Bernie [R-OH]
OH • R
Sponsored 2/4/2025
Markwayne Mullin
OK • R
Sponsored 2/4/2025
Sen. Ricketts, Pete [R-NE]
NE • R
Sponsored 2/4/2025
Sen. Risch, James E. [R-ID]
ID • R
Sponsored 2/4/2025
Sen. Schmitt, Eric [R-MO]
MO • R
Sponsored 2/4/2025
Sen. Scott, Rick [R-FL]
FL • R
Sponsored 2/4/2025
Sen. Scott, Tim [R-SC]
SC • R
Sponsored 2/4/2025
Sen. Sheehy, Tim [R-MT]
MT • R
Sponsored 2/4/2025
Dan Sullivan
AK • R
Sponsored 2/4/2025
Sen. Tillis, Thomas [R-NC]
NC • R
Sponsored 2/4/2025
Sen. Tuberville, Tommy [R-AL]
AL • R
Sponsored 2/4/2025
Roger Wicker
MS • R
Sponsored 2/4/2025
Sen. Moody, Ashley [R-FL]
FL • R
Sponsored 2/6/2025
Sen. Husted, Jon [R-OH]
OH • R
Sponsored 2/19/2025
Sen. Hawley, Josh [R-MO]
MO • R
Sponsored 5/8/2025
Sen. Grassley, Chuck [R-IA]
IA • R
Sponsored 9/30/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov