S. 4450

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

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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.
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