To amend the Federal Reserve Act to prohibit certain financial service providers who deny fair access to financial services from using taxpayer funded discount window lending programs, and for other purposes.
Summary
What This Bill Does
The bill requires findings Congress finds that— 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, creates purposes The purposes of this Act are to— ensure fair access to financial services and fair treatment of customers by financial service providers, including national and State banks, Federal savings, and provides advances to individual member banks Section 10B of the Federal Reserve Act (12 U.S.C. It relies on definition changes, compliance mandates, product standards, and appropriations. The main policy areas are Finance, Telecommunications, Defense, and Technology.
Who Benefits and How
Public beneficiaries or protected communities affected by the clause could see lower costs, Telecommunications providers and users affected by the bill could face lower compliance burdens, and National security and critical infrastructure stakeholders affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Financial services firms and customers affected by the bill would take on compliance duties, Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, and Businesses and employers affected by the bill would take on compliance duties.
Key Provisions
- Requires findings Congress finds that— 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...
- Creates purposes The purposes of this Act are to— ensure fair access to financial services and fair treatment of customers by financial service providers, including national and State banks, Federal savings...
- Provides advances to individual member banks Section 10B of the Federal Reserve Act (12 U.S.C.
- Requires payment card network.
- Defines credit unions Section 206(b)(1) of the Federal Credit Union Act (12 U.S.C.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires findings Congress finds that— 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, creates purposes The purposes of this Act are to— ensure fair access to financial services and fair treatment of customers by financial service providers, including national and State banks, Federal savings, and provides advances to individual member banks Section 10B of the Federal Reserve Act (12 U.S.C.
Key Policy Areas
Finance, Telecommunications, Defense, Technology
Primary Purpose
The bill requires findings Congress finds that— 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, creates purposes The purposes of this Act are to— ensure fair access to financial services and fair treatment of customers by financial service providers, including national and State banks, Federal savings, and provides advances to individual member banks Section 10B of the Federal Reserve Act (12 U.S.C.
Policy Domains
Whole bill
Identified Gains
- Public beneficiaries or protected communities affected by the clause
- Telecommunications providers and users affected by the bill
- National security and critical infrastructure stakeholders affected by the bill
- Financial services firms and customers affected by the bill
- Businesses and employers affected by the bill
Identified Costs
- Financial services firms and customers affected by the bill
- Federal, state, or local agencies responsible for implementing the clause
- Businesses and employers affected by the bill
Sponsors
Legislative Progress
IntroducedMr. Cramer (for himself, Mrs. Britt, Mr. Tuberville, Mr. Sullivan, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology