I 
116TH CONGRESS 
1ST SESSION H. R. 2079 
To amend the Federal Reserve Act to prohibit certain member banks from 
using discount window lending programs, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 4, 2019 
Mr. WILLIAMS introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To amend the Federal Reserve Act to prohibit certain mem-
ber banks from using 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 ‘‘Freedom Financing 
Act’’. 
SEC. 2. FINDINGS. 
Congress finds that— 
(1) article I of the Constitution of the United 
States guarantees the people of the United States 
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the right to enact policy reforms through the free 
and fair election of representatives; and 
(2) member banks leveraging their power and 
position to effectively illegalize legal commerce by re-
fusing to do business with certain industries and in-
dividuals due to their differing political beliefs from 
the member bank violates and usurps the people of 
the United States and the right of their elected rep-
resentatives to determine public policy. 
SEC. 3. 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.— 
‘‘(1) DEFINITION.—In this subsection, the term 
‘traditional 
underwriting 
and 
credit 
consider-
ations’— 
‘‘(A) includes a good-faith determination 
by a member bank that the member bank lacks 
sufficient familiarity with a line of business or 
geographic region to do business with a person 
in that line of business or geographic region; 
and 
‘‘(B) does not include reputational risks. 
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‘‘(2) PROHIBITION.—No member bank with 
more than $10,000,000,000 in total consolidated as-
sets may use a discount window lending program if 
the member bank refuses to do business with any 
person licensed under section 923 of title 18, United 
States Code, who is in compliance with the law, 
based on concerns other than traditional under-
writing and credit considerations.’’. 
(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 adding ‘‘or’’ at the end; 
and 
(3) by inserting after clause (iii) the following: 
‘‘(iv) an insured depository institution 
with more than $10,000,000,000 in total 
consolidated refuses to do business with 
any person licensed under section 923 of 
title 18, United States Code, who is in 
compliance with the law, based on concerns 
other than traditional underwriting and 
credit considerations (as defined in section 
10B(c) of the Federal Reserve Act (12 
U.S.C. 347b(c))),’’. 
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SEC. 4. 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 may, 
directly or through any agent, processor, or licensed mem-
ber of the network, by contract, requirement, condition, 
penalty, or otherwise, prohibit or inhibit the ability of any 
person licensed under section 923 of title 18, United 
States Code, who is in compliance with the law, to obtain 
access to services or products of the payment card network 
because of political or reputational considerations. 
(c) CIVIL PENALTY.—Any payment card network 
that violates subsection (b) shall be assessed a civil penalty 
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. 5. CREDIT UNIONS. 
(a) ADVANCES TO CREDIT UNIONS.—Section 13 of 
the Federal Reserve Act (12 U.S.C. 342) is amended by 
inserting ‘‘Provided further, That no such nonmember 
bank or trust company with more than $10,000,000,000 
in total consolidated assets may refuse to do business with 
any person licensed under section 923 of title 18, United 
States Code, who is in compliance with the law, based on 
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concerns other than traditional underwriting and credit 
considerations, as defined in section 10B(c):’’ after ‘‘ap-
propriate:’’. 
(b) REVOCATION
OF NCUA INSURANCE.—Section 
206(b)(1) of the Federal Credit Union Act (12 U.S.C. 
1786) is amended by inserting ‘‘or is refusing or has re-
fused to do business with any person licensed under sec-
tion 923 of title 18, United States Code, who is in compli-
ance with the law, based on concerns other than tradi-
tional underwriting and credit considerations, as defined 
in section 10B(c) of the Federal Reserve Act (12 U.S.C. 
347b(c)),’’ after ‘‘as an insured credit union,’’. 
SEC. 6. USE OF AUTOMATED CLEARING HOUSE NETWORK. 
(a) DEFINITIONS.—In this section: 
(1) 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). 
(2) MEMBER BANK.—The term ‘‘member bank’’ 
has the meaning given the term in the third undesig-
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