I 
117TH CONGRESS 
1ST SESSION H. R. 1729 
To amend the Federal Reserve Act to prohibit certain financial service pro-
viders who deny fair access to financial services from using taxpayer 
funded discount window lending programs, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 10, 2021 
Mr. BARR (for himself, Mr. WILLIAMS of Texas, Mr. LAMBORN, Mr. 
DESJARLAIS, Mr. BACON, Mr. PERRY, Mr. KELLY of Mississippi, Mr. 
SMITH of Nebraska, Mr. ISSA, Mr. HUIZENGA, Mr. ARMSTRONG, Mrs. 
WALORSKI, Mr. CRAWFORD, Mr. GUEST, Ms. STEFANIK, Mr. FULCHER, 
Mr. ROUZER, Mrs. MILLER of West Virginia, Mr. YOUNG, Mr. ROSE, Mr. 
ROGERS of Kentucky, Mr. HICE of Georgia, Mr. RESCHENTHALER, Mr. 
MOORE of Utah, Mr. POSEY, Mr. GOSAR, Mr. HUDSON, and Mr. 
LATURNER) introduced the following bill; which was referred to the Com-
mittee on Financial Services 
A BILL 
To amend the Federal Reserve Act to prohibit certain finan-
cial service providers who deny fair access to financial 
services from using taxpayer funded discount window 
lending programs, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Fair Access to Bank-
ing Act’’. 
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SEC. 2. FINDINGS. 
Congress finds that— 
(1) article I of the Constitution of the United 
States guarantees the people of the United States 
the right to enact public policy through the free and 
fair election of representatives and through the ac-
tions of State legislatures and Congress; 
(2) banks rightly objected to the Operation 
Choke Point initiative through which certain govern-
ment agencies pressured banks to cut off access to 
financial services to lawful sectors of the economy; 
(3) banks are now, however, increasingly em-
ploying subjective, category-based evaluations to 
deny certain persons access to financial services in 
response to pressure from advocates from across the 
political spectrum whose policy objectives are served 
when banks deny certain customers access to finan-
cial services; 
(4) the privatization of the discriminatory prac-
tices underlying Operation Choke Point by banks 
represents as great a threat to the national economy, 
national security, and the soundness of banking and 
financial markets in the United States as Operation 
Choke Point itself; 
(5) banks are supported by the United States 
taxpayers and enjoy significant privileges in the fi-
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nancial system of the United States and should not 
be permitted to act as de facto regulators or 
unelected legislators by withholding financial services 
to otherwise credit worthy businesses based on sub-
jective political reasons, bias or prejudices; 
(6) banks are not well-equipped to balance risks 
unrelated to financial exposures and the operations 
required to deliver financial services; 
(7) the United States taxpayers came to the aid 
for large banks during the great recession of 2008 
because they were deemed too important to the na-
tional economy to be permitted to fail; 
(8) when a bank predicates the access to finan-
cial services of a person on factors or information 
(such as the lawful products a customer manufac-
tures or sells or the services the customer provides) 
other than quantitative, impartial risk-based stand-
ards, the bank has failed to act consistent with basic 
principles of sound risk management and failed to 
provide fair access to financial services; 
(9) banks have a responsibility to make deci-
sions about whether to provide a person with finan-
cial services on the basis of impartial criteria free 
from prejudice or favoritism; 
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(10) while fair access to financial services does 
not obligate a bank to offer any particular financial 
service to the public, or to operate in any particular 
geographic area, or to provide a service the bank of-
fers to any particular person, it is necessary that— 
(A) the financial services a bank chooses to 
offer in the geographic areas in which the bank 
operates be made available to all customers 
based on the quantitative, impartial risk-based 
standards of the bank, and not based on wheth-
er the customer is in a particular category of 
customers; 
(B) banks assess the risks posed by indi-
vidual customers on a case-by-case basis, rather 
than category-based assessment; and 
(C) banks implement controls to manage 
relationships commensurate with these risks as-
sociated with each customer, not a strategy of 
total avoidance of particular industries or cat-
egories of customers; 
(11) banks are free to provide or deny financial 
services to any individual customer, but first, the 
banks must rely on empirical data that are evaluated 
consistent with the established, impartial risk-man-
agement standards of the bank; and 
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(12) anything less is not prudent risk manage-
ment and may result in unsafe or unsound practices, 
denial of fair access to financial services, cancelling, 
or eliminating certain businesses in society, and have 
a deleterious effect on national security and the na-
tional economy. 
SEC. 3. PURPOSE. 
The purposes of this Act are to— 
(1) ensure fair access to financial services and 
fair treatment of customers by financial service pro-
viders, including national and State banks, Federal 
savings associations, and State and Federal credit 
unions; 
(2) ensure banks conduct themselves in a safe 
and sound manner, comply with laws and regula-
tions, treat their customers fairly, and provide fair 
access to financial services; 
(3) protect against banks being able to impede 
otherwise lawful commerce and thereby achieve cer-
tain public policy goals; 
(4) ensure that persons involved in politically 
unpopular businesses but that are lawful under Fed-
eral law receive fair access to financial services 
under the law; and 
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(5) ensure banks operate in a safe and sound 
manner by making judgments and decisions about 
whether to provide a customer with financial services 
on an impartial, individualized risk-based analysis 
using empirical data evaluated under quantifiable 
standards. 
SEC. 4. ADVANCES TO INDIVIDUAL MEMBER BANKS. 
(a) MEMBER BANKS.—Section 10B of the Federal 
Reserve Act (12 U.S.C. 347b) is amended by adding at 
the end the following: 
‘‘(c) PROHIBITION ON USE OF DISCOUNT WINDOW 
LENDING PROGRAMS.—No member bank with more than 
$10,000,000,000 in total consolidated assets, or sub-
sidiary of the member bank, may use a discount window 
lending program if the member bank or subsidiary refuses 
to do business with any person who is in compliance with 
the law, including section 8 of the Fair Access to Banking 
Act.’’. 
(b) INSURED DEPOSITORY INSTITUTIONS.—Section 
8(a)(2)(A) of the Federal Deposit Insurance Act (12 
U.S.C. 1818(a)(2)(A)) is amended— 
(1) in clause (ii), by striking ‘‘or’’ at the end; 
(2) in clause (iii), by striking the comma at the 
end and inserting ‘‘; or’’; and 
(3) by adding at the end the following: 
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‘‘(iv) an insured depository institution 
with more than $10,000,000,000 in total 
consolidated assets, or subsidiary of the in-
sured depository institution, that refuses to 
do business with any person who is in com-
pliance with the law, including section 8 of 
the Fair Access to Banking Act.’’. 
(c) NONMEMBER BANKS, TRUST COMPANIES, AND 
OTHER DEPOSITORY INSTITUTIONS.—Section 13 of the 
Federal Reserve Act (12 U.S.C. 342) is amended by in-
serting ‘‘Provided further, That no such nonmember bank 
or trust company or other depository institution with more 
than $10,000,000,000 in total consolidated assets, or sub-
sidiary of such nonmember bank or trust company or 
other depository institution, may refuse to do business 
with any person who is in compliance with the law, includ-
ing, including section 8 of the Fair Access to Banking 
Act:’’ after ‘‘appropriate:’’. 
SEC. 5. PAYMENT CARD NETWORK. 
(a) DEFINITION.—In this section, the term ‘‘payment 
card network’’ has the meaning given the term in section 
921(c) of the Electronic Fund Transfer Act (15 U.S.C. 
1693o–2(c)). 
(b) PROHIBITION.—No payment card network, in-
cluding a subsidiary of a payment card network, may, di-
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rectly or through any agent, processor, or licensed member 
of the network, by contract, requirement, condition, pen-
alty, or otherwise, prohibit or inhibit the ability of any per-
son who is in compliance with the law, including section 
8 of this Act, to obtain access to services or products of 
the payment card network because of political or 
reputational risk considerations. 
(c) CIVIL PENALTY.—Any payment card network 
that violates subsection (b) shall be assessed a civil penalty 
by the Comptroller of the Currency of not more than 10 
percent of the value of the services or products described 
in that subsection, not to exceed $10,000 per violation. 
SEC. 6. CREDIT UNIONS. 
Section 206(b)(1) of the Federal Credit Union Act 
(12 U.S.C. 1786) is amended by inserting ‘‘or is refusing 
or has refused, or has a subsidiary that is refusing or has 
refused, to do business with any person who is in compli-
ance with the law, including section 8 of the Fair Access 
to Banking Act,’’ after ‘‘as an insured credit union,’’. 
SEC. 7. USE OF AUTOMATED CLEARING HOUSE NETWORK. 
(a) DEFINITIONS.—In this section: 
(1) COVERED CREDIT UNION.—The term ‘‘cov-
ered credit union’’ means— 
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(A) any insured credit union, as defined in 
section 101 of the Federal Credit Union Act 
(12 U.S.C. 1752); or 
(B) any credit union that is eligible to 
make application to become an insured credit 
union under section 201 of the Federal Credit 
Union Act (12 U.S.C. 1781). 
(2) MEMBER BANK.—The term ‘‘member bank’’ 
has the meaning given the term in the third undesig-
nated paragraph of the first section of the Federal 
Reserve Act (12 U.S.C. 221). 
(b) PROHIBITION.—No covered credit union, member 
bank, or State-chartered non-member bank with more 
than $10,000,000,000 in total consolidated assets, or a 
subsidiary of the covered credit union, member bank, or 
State-chartered non-member bank, may use the Auto-
mated Clearing House Network if that member bank, 
credit union, or subsidiary of the member bank or credit 
union, refuses to do business with any person who is in 
compliance with the law, including section 8 of this Act. 
SEC. 8. FAIR ACCESS TO FINANCIAL SERVICES. 
(a) DEFINITIONS.—In this section: 
(1) BANK.—The term ‘‘bank’’— 
(A) means an entity for which the Office 
of the Comptroller of the Currency is the appro-
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priate Federal banking agency, as defined in 
section 3 of the Federal Deposit Insurance Act 
(12 U.S.C. 1813); and 
(B) includes— 
(i) member banks; 
(ii) non-member banks; 
(iii) covered credit unions; 
(iv) 
State-chartered 
non-member 
banks; and 
(v) trust companies. 
(2) COVERED BANK.— 
(A) IN
GENERAL.—The term ‘‘covered 
bank’’ means a bank that has the ability to— 
(i) raise the price a person has to pay 
to obtain an offered financial service from 
the bank or from a competitor; or 
(ii) significantly impede a person, or 
the business activities of a person, in favor 
of or to the advantage of another person. 
(B) PRESUMPTION.— 
(i) IN GENERAL.—A bank shall not be 
presumed to be a covered bank if the bank 
has less than $10,000,000,000 in total as-
sets. 
(ii) REBUTTABLE PRESUMPTION.— 
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(I) IN GENERAL.—A bank is pre-
sumed to be a covered bank if the 
bank has $10,000,000,000 or more in 
total assets. 
(II) REBUTTAL.—A bank that 
meets the criteria under subclause (I) 
can seek to rebut this presumption by 
submitting to the Office of the Comp-
troller of the Currency written mate-
rials that, in the judgement of the 
agency, demonstrate the bank does 
not meet the definition of covered 
bank. 
(3) COVERED CREDIT UNION.—The term ‘‘cov-
ered credit union’’ means— 
(A) any insured credit union, as defined in 
section 101 of the Federal Credit Union Act 
(12 U.S.C. 1752); or 
(B) any credit union that is eligible to 
make application to become an insured credit 
union under section 201 of the Federal Credit 
Union Act (12 U.S.C. 1781). 
(4) DENY.—The term ‘‘deny’’ means to deny or 
refuse to enter into or terminate an existing finan-
cial services relationship with a person. 
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(5) FAIR ACCESS TO FINANCIAL SERVICES.— 
The term ‘‘fair access to financial services’’ means 
persons engaged in activities lawful under Federal 
law are able to obtain financial services at banks 
without impediments caused by a prejudice against 
or dislike for a person or the business of the cus-
tomer, products or services sold by the person, or fa-
voritism for market alternatives to the business of 
the person. 
(6) FINANCIAL SERVICE.—The term ‘‘financial 
service’’ means a financial product or service, includ-
ing— 
(A) commercial and merchant banking; 
(B) lending; 
(C) financing; 
(D) leasing; 
(E) cash, asset and investment manage-
ment and advisory services; 
(F) credit card services; 
(G) payment processing; 
(H) security and foreign exchange trading 
and brokerage services; and 
(I) insurance products. 
(7) MEMBER BANK.—The term ‘‘member bank’’ 
has the meaning given the term in the third undesig-
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nated paragraph of the first section of the Federal 
Reserve Act (12 U.S.C. 221). 
(8) PERSON.—The term ‘‘person’’— 
(A) means— 
(i) any natural person; or 
(ii) any partnership, corporation, or 
other business or legal entity; and 
(B) includes a customer. 
(b) REQUIREMENTS.— 
(1) IN GENERAL.—To provide fair access to fi-
nancial services, a covered bank, including a sub-
sidiary of a covered bank, shall, except as necessary 
to comply with another provision of law— 
(A) make each financial service it offers 
available to all persons in the geographic mar-
ket served by the covered bank on proportion-
ally equal terms; 
(B) not deny any person a financial service 
the covered bank offers unless the denial is jus-
tified by such quantified and documented fail-
ure of the person to meet quantitative, impar-
tial risk-based standards established in advance 
by the covered bank; 
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(C) not deny, in coordination with or at 
the request of others, any person a financial 
service the covered bank offers; and 
(D) when denying any person financial 
services the covered bank offers, to provide 
written justification to the person explaining 
the basis for the denial, including any specific 
laws or regulations the covered bank believes 
are being violated by the person or customer, if 
any. 
(2) JUSTIFICATION
REQUIREMENT.—A jus-
tification described in paragraph (1)(D) may not be 
based solely on the reputational risk to the deposi-
tory institution. 
(c) CAUSE OF ACTION FOR VIOLATIONS OF THIS 
SECTION.— 
(1) IN GENERAL.—Notwithstanding any other 
provision of law, a person may commence a civil ac-
tion in the appropriate district court of the United 
States against any covered bank or covered credit 
union that violates or fails to comply with the re-
quirements under this Act, for harm that person 
suffered as a result of such violation. 
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(2) NO EXHAUSTION.—It shall not be necessary 
for a person to exhaust its administrative remedies 
before commencing a civil action under this Act. 
(3) DAMAGES.—If a person prevails in a civil 
action under this Act, a court shall award the per-
son— 
(A) reasonable attorney’s fees and costs; 
and 
(B) treble damages. 
Æ 
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