# Fair Access to Banking Act

This bill aims to make sure that banks can't unfairly deny services to people or businesses based on their industry or political beliefs. Right now, some banks refuse to work with certain types of customers—like gun shops, cannabis businesses, or companies they disagree with politically—even when those businesses are legal. This bill would require banks to treat all legal businesses fairly and transparently, explaining their reasons if they do decide to deny services.

The main impact is that it protects business owners from what's called "de-banking," where financial institutions cut off access to banking services without clear justification. If a bank wants to refuse service to a legal business, they'd have to provide a written explanation and give the business a chance to fix any legitimate problems. This applies to everything from opening accounts to getting loans. The bill also prevents banks from discriminating based on a customer's political views, religious beliefs, or the lawful products they sell.

For everyday people, this matters because it affects which businesses can operate in your community. If a gun store, religious organization, or political group can't access banking services, they can't function. The bill doesn't force banks to work with anyone—they can still refuse service for legitimate financial reasons like fraud or money laundering. It just requires them to be honest about why and to follow consistent rules rather than making decisions based on personal or political preferences. Banks would face penalties if they violate these rules, giving them a real incentive to follow the law fairly.

Fair Access to Banking Act

Cramer, Kevin

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.