U.S. Senators Roger Marshall, M.D. and Kevin Cramer reintroduced the Fair Access to Banking Act to ensure fair access to financial services. The bill mandates that lending and service decisions be based on impartial, risk-based criteria, rather than political or reputational factors.

The legislation addresses discriminatory banking practices, such as debanking, where banks exclude legal industries—like firearms, crypto, federal prison contractors, and energy producers—from financial services. It targets banks and credit unions with over $10 billion in assets, penalizing those that refuse to serve creditworthy, legally compliant individuals or businesses. The bill also prevents payment card networks from discriminating for political or reputational reasons.

Banks must provide written justification for denying services, and non-compliant institutions could face penalties, including exclusion from discount window lending programs, loss of insured status, or fines of up to $10,000 per violation.