[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4450 Introduced in Senate (IS)]

<DOC>






119th CONGRESS
  2d Session
                                S. 4450

      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.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 30, 2026

Ms. Alsobrooks introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
      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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Financial Access Protection Act''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Appropriate federal banking agency; insured depository 
        institution.--The terms ``appropriate Federal banking agency'' 
        and ``insured depository institution'' have the meanings given 
        the terms in section 3 of the Federal Deposit Insurance Act (12 
        U.S.C. 1813).
            (2) Bank secrecy act.--The term ``Bank Secrecy Act'' has 
        the meaning given the term in section 6003 of the Anti-Money 
        Laundering Act of 2020 (31 U.S.C. 5311 note).
            (3) Consumer reporting agency.--The term ``consumer 
        reporting agency'' has the meaning given the term in section 
        603 of the Fair Credit Reporting Act (15 U.S.C. 1681a).
            (4) Covered financial institution.--The term ``covered 
        financial institution'' means--
                    (A) an insured depository institution;
                    (B) an insured credit union or any credit union 
                regulated by the National Credit Union Administration;
                    (C) a consumer reporting agency;
                    (D) a national bank or Federal savings association 
                supervised by the Office of the Comptroller of the 
                Currency;
                    (E) a State member bank supervised by the Board of 
                Governors of the Federal Reserve System;
                    (F) a State nonmember bank supervised by the 
                Federal Deposit Insurance Corporation;
                    (G) a bank holding company or savings and loan 
                holding company supervised by the Board of Governors of 
                the Federal Reserve System; and
                    (H) a subsidiary or affiliate thereof that is 
                subject to examination or supervision by a Federal 
                banking agency.
            (5) Insured credit union.--The term ``insured credit 
        union'' has the meaning given the term in section 101 of the 
        Federal Credit Union Act (12 U.S.C. 1752).

SEC. 3. PROHIBITION ON COLLECTION OF CITIZENSHIP OR IMMIGRATION STATUS 
              INFORMATION.

    (a) In General.--Notwithstanding any other provision of law, a 
covered financial institution may not--
            (1) require a consumer or prospective consumer to disclose 
        their citizenship status or immigration status as a condition 
        of opening, maintaining, or accessing an account or financial 
        service offered by such covered financial institution;
            (2) request, collect, record, retain, maintain, or 
        otherwise obtain information relating to the citizenship status 
        or immigration status of a consumer; or
            (3) transmit, report, disclose, or otherwise make available 
        information relating to the citizenship status or immigration 
        status of a consumer available to any Federal agency or other 
        governmental entity.
    (b) Prohibition on Regulatory Action.--No appropriate Federal 
banking agency may, by regulation, rule, order, guidance, supervisory 
expectation, examination procedure, informal request, or otherwise--
            (1) require or encourage a covered financial institution to 
        collect or maintain information regarding the citizenship 
        status or immigration status of a consumer; or
            (2) condition supervisory ratings, enforcement decisions, 
        approvals, or other regulatory determinations on the collection 
        or reporting of information about the citizenship status or 
        immigration status of a consumer.
    (c) Enforcement.--Each appropriate Federal banking agency shall 
enforce this section with respect to covered financial institutions.
    (d) Rule of Construction.--Nothing in this section may be construed 
to--
            (1) alter or limit the any obligations a covered financial 
        institution has under the Bank Secrecy Act; or
            (2) prevent covered financial institutions from complying 
        with Federal, State, or local reporting requirements relating 
        to the prevention of financial crimes including money 
        laundering, terrorist financing, compliance with sanctions.
                                 <all>