Financial Access Protection Act

The Financial Access Protection Act prevents banks, credit unions, and other covered financial institutions from asking customers about their citizenship or immigration status to open or maintain accounts. It also bars these institutions from collecting, storing, or sharing such information with government agencies. Additionally, the law stops federal banking regulators from requiring these institutions to gather immigration data or using such data to influence regulatory decisions. While the bill restricts the collection of personal status information, it explicitly preserves existing rules for preventing money laundering and other financial crimes.