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Standard Summary
Comprehensive overview in 1-2 paragraphs
Prohibits large financial institutions from using federal discount window lending if they deny fair access to financial services.
Key Points
- 1Bars banks with >$10 billion in assets from discount window access if they deny services based on category-based assessments
- 2Defines fair access as service provision based on individual risk assessment
- 3Applies to member banks, insured depository institutions, and credit unions
- 4Extends prohibitions to payment card networks and ACH access
- 5Creates private right of action with treble damages for violations
- 6Targets politically motivated service denials
Impact Areas
Banking industryFinancial services accessFederal Reserve programsSmall businessesConsumer protectionBanking regulation
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