No Red and Blue Banks Act

Bill: 119-s-379
Sponsor: full_name: Sen. Kennedy, John [R-LA]
Introduced: 2025-02-04
Policy area: Finance and Financial Sector
Latest action: action_date: 2025-02-04
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Summaries:
action_date: 2025-02-04
action_desc: Introduced in Senate
text: <p><strong>No Red and Blue Banks Act</strong></p><p>This bill prohibits the General Services Administration from awarding a contract to a depository institution insured by the Federal Deposit Insurance Corporation if the institution avoids doing business with companies based solely on social policy considerations.</p>

tv_txt: II 119th CONGRESS 1st Session S. 379 IN THE SENATE OF THE UNITED STATES February 4, 2025 Mr. Kennedy (for himself and Mr. Cramer ) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs A BILL To prohibit the General Services Administration from awarding contracts to certain insured depository institutions that avoid doing business with certain companies that are engaged in lawful commerce based solely on social policy considerations.

1. Short title This Act may be cited as the No Red and Blue Banks Act . 2. Insured depository institutions (a) In general The General Services Administration may not award a contract to an insured depository institution, as defined in section 3 of the Federal Deposit Insurance Act ( 12 U.S.C. 1813 ), or an affiliate of a depository institution if the insured depository institution or affiliate avoids doing business with certain companies that the insured depository institution or affiliate believes are engaged in lawful commerce based solely on social policy considerations. (b) Applicability This Act shall not apply to any contract awarded before the date of enactment of this Act.