A bill 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.

Bill 119 s 401, also known as the Fair Access to Financial Services Act, aims to amend the Federal Reserve Act in order to prevent certain financial service providers from accessing taxpayer-funded discount window lending programs if they are found to be denying fair access to financial services. The bill seeks to hold these providers accountable for their actions and ensure that they are not benefiting from government assistance while engaging in discriminatory practices.

The main purpose of this bill is to promote fairness and equality in the financial services industry by prohibiting institutions that engage in discriminatory practices from receiving support from taxpayer-funded programs. By doing so, the bill aims to protect consumers from being unfairly denied access to financial services based on factors such as race, gender, or socioeconomic status.

Overall, the Fair Access to Financial Services Act is a step towards ensuring that all individuals have equal opportunities to access financial services and are not discriminated against by financial institutions. It highlights the importance of accountability and transparency in the industry, and aims to create a more inclusive and fair financial system for all Americans.