Fair Access to Banking Act

This bill would restrict banks, credit unions, and payment card networks from refusing to do business with people who follow the law. If these financial institutions deny services without proper justification, they could face penalties like losing access to electronic transfer systems, losing their insurance, or paying fines. The bill says financial institutions can only deny services if they have documented, measurable risk-based reasons that were set up ahead of time, and they cannot refuse service just because of concerns about their reputation. People who believe they were wrongly denied financial services could sue under this bill.

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