The "Fair Access to Banking Act" aims to ensure fair access to financial services for all lawful businesses, preventing financial institutions from acting as de facto regulators by denying services based on subjective political or reputational considerations. It seeks to protect against the privatization of discriminatory practices, ensuring that decisions are made based on impartial, individualized risk-based analyses using empirical data. This legislation applies broadly to various financial service providers, including national and state banks, federal savings associations, and credit unions. The bill imposes significant restrictions on large financial institutions, specifically those with over $50 billion (or $500 billion for some insured depositories) in consolidated assets. These institutions are prohibited from using taxpayer-funded discount window lending programs or the Automated Clearing House Network if they deny services to lawful persons. Additionally, payment card networks are forbidden from inhibiting access to their services due to political or reputational risk considerations, with civil penalties for non-compliance. Under the Act, "covered banks" must offer financial services on proportionally equal terms and can only deny services based on quantified, documented, impartial risk-based standards established in advance, not solely on reputational risk. When denying services, these banks must provide a written justification to the person, detailing the basis for the denial. Crucially, the legislation establishes a private cause of action , allowing individuals harmed by violations to file civil lawsuits in federal court, potentially recovering attorney's fees and treble damages without exhausting administrative remedies.