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New Senate bill to tackle purported bank discrimination

By Madison Parry

A bill introduced to the Senate Banking Committee this week pushes to outlaw discrimination against bank customers. Congress members behind the bill are hoping to change current law allowing banks to treat some customers differently as long as they eventually receive the services they seek.

This week Congress members introduced a new bill called the Fair Access to Financial Services Act to the Senate Banking Committee.

The bill seeks to outlaw discrimination against bank customers, supporters claiming that a loophole in federal law allows discrimination against customers primarily due to race, religion and sexual orientation.

Backers of the bill say that currently, customers who experience discrimination can only rely on state protections when seeking help.

The loophole is found in the Civil Rights Act of 1964, which lists the kinds of businesses where discrimination is prohibited, The New York Times reports. These businesses include movie theaters, restaurants, and hotels, however, the law does not apply to any businesses not on the list, such as banks and other businesses.

According to the new bill, “all persons shall be entitled to the full and equal enjoyment of the goods, services, facilities, privileges and accommodations of financial institutions.”

Current law allows banks and businesses not included on the list to treat some customers differently as long as the individuals eventually receive the services they are after.