What does Preamble of Financial Access Protection Act do?

This bill, formally titled 'To prohibit covered financial institutions from collecting, maintaining, and disclosing information relating to the citizenship status and immigration status of consumers, and for other purposes,' aims to restrict financial institutions' handling of consumer citizenship and immigration status data.

What does SHORT TITLE. of Financial Access Protection Act do?

This bill is formally titled Financial Access Protection Act

What does DEFINITIONS. of Financial Access Protection Act do?

This section defines terms used throughout the Act. The terms 'appropriate federal banking agency' and 'insured depository institution' are defined by reference to section 3 of the Federal Deposit Insurance Act. The term 'Bank Secrecy Act' is defined by reference to section 6003 of the Anti-Money Laundering Act of 2020. The term 'consumer reporting agency' is defined by reference to section 603 of the Fair Credit Reporting Act. A 'covered financial institution' includes insured depository institutions, insured credit unions, consumer reporting agencies, national banks, State member banks, State nonmember banks, bank holding companies, and subsidiaries or affiliates subject to federal banking agency examination. The term 'insured credit union' is defined by reference to section 101 of the Federal Credit Union Act.

What does PROHIBITION ON COLLECTION OF CITIZENSHIP OR IMMIGRATION STATUS of Financial Access Protection Act do?

This section prohibits covered financial institutions from requiring or collecting citizenship or immigration status information from consumers. Covered financial institutions are barred from transmitting such information to federal agencies or governmental entities. Federal banking agencies are prohibited from conditioning regulatory actions on the collection of citizenship or immigration status information.

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Financial Access Protection Act

Last updated: 4/30/2026 · Introduced: 4/30/2026

Author: Angela Alsobrooks (D-MD)

TL;DR (AI)

The Financial Access Protection Act restricts covered financial institutions from collecting, maintaining, or disclosing consumer citizenship and immigration status information.
This bill prevents covered financial institutions from transmitting citizenship or immigration status data to federal agencies or governmental entities.
Federal banking agencies cannot require or condition regulatory actions on the collection of citizenship or immigration status information from consumers.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

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