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Code · BILL · 119th Congress · H.R. 987 (Introduced in House) — To amend certain banking laws to prohibit certain financial service providers who deny fair access to financial servi... · Sec. 4

Sec. 4. Advances to individual member banks

252 words·~1 min read·/bill/119/hr/987/ih/section-4

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Section 10B of the Federal Reserve Act ( 12 U.S.C. 347b ) is amended by adding at the end the following: No member bank with more than $50,000,000,000 in total consolidated assets, or subsidiary of the member bank, may use a discount window lending program if the member bank or subsidiary refuses to do business with any person who is in compliance with the law, including section 8 of the Fair Access to Banking Act . . Section 8(a)(2)(A) of the Federal Deposit Insurance Act ( 12 U.S.C. 1818(a)(2)(A) ) is amended— in clause (ii), by striking or at the end; in clause (iii), by striking the comma at the end and inserting ; or ; and by adding at the end the following: an insured depository institution with more than $500,000,000,000 in total consolidated assets, or subsidiary of the insured depository institution, that refuses to do business with any person who is in compliance with the law, including section 8 of the Fair Access to Banking Act . .
Section 13 of the Federal Reserve Act ( 12 U.S.C. 342 ) is amended by inserting after Provided further , That no such nonmember bank or trust company or other depository institution with more than $50,000,000,000 in total consolidated assets, or subsidiary of such nonmember bank or trust company or other depository institution, may refuse to do business with any person who is in compliance with the law, including, including section 8 of the Fair Access to Banking Act : appropriate: .
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