,,ii #aafth ,,congress #ast ,session ,s4 #hba ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #ad1 #bjai,mr4 ,cramer 7for himself and ,mr4 ,kennedy7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to amend the ,federal ,reserve ,act to prohibit certain member banks from using discount window lending programs1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,freedom ,financing ,act4 #b4 ,findings ,congress finds that-- 7#a7 article ,i of the ,constitution of the ,united ,states guarantees the people of the ,united ,states the right to enact policy reforms through the free and fair election of representatives2 and 7#b7 member banks leveraging their power and position to effectively illegalize legal commerce by refusing to do business with certain industries and individuals due to their differing political beliefs from the member bank violates and usurps the people of the ,united ,states and the right of their elected representatives to determine public policy4 #c4 ,advances to individual member banks 7a7 ,member banks ,section #aj;,b of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #cdg;b7 is amended by adding at the end the following3 7c7 ,prohibition on use of discount window lending programs 7#a7 ,definition ,in this subsection1 the term traditional underwriting and credit considerations-- 7,a7 includes a good-faith determination by a member bank that the member bank lacks sufficient familiarity with a line of business or geographic region to do business with a person in that line of business or geographic region2 and 7,b7 does not include reputational risks4 7#b7 ,prohibition ,no member bank with more than #aj1jjj1jjj1jjj in total consolidated assets may use a discount window lending program if the member bank refuses to do business with any person licensed under section #ibc of title #ah1 ,united ,states ,code1 who is in compliance with the law1 based on concerns other than traditional underwriting and credit considerations4 4 7b7 ,insured depository institutions ,section #h7;a77#b77;,a7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahah7;a77#b77;,a77 is amended-- 7#a7 in clause 7ii71 by striking or at the end2 7#b7 in clause 7iii71 by striking the comma at the end and inserting 2 or2 and 7#c7 by adding at the end the following3 7iv7 an insured depository institution with more than #aj1jjj1jjj1jjj in total consolidated assets that refuses to do with any person licensed under section #ibc of title #ah1 ,united ,states ,code1 who is in compliance with the law1 based on concerns other than traditional underwriting and credit considerations1 as defined in section #aj;,b7c7 of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #cdg;b7c774 4 #d4 ,payment card network 7a7 ,definition ,in this section1 the term payment card network has the meaning given the term in section #iba7;c7 of the ,electronic ,fund ,transfer ,act 7#ae ,u4,s4,c4 #afico-#b7;c774 7b7 ,prohibition ,no payment card network may1 directly or through any agent1 processor1 or licensed member of the network1 by contract1 requirement1 condition1 penalty1 or otherwise1 prohibit or inhibit the ability of any person licensed under section #ibc of title #ah1 ,united ,states ,code1 who is in compliance with the law1 to obtain access to services or products of the payment card network because of political or reputational considerations4 7c7 ,civil penalty ,any payment card network that violates subsection 7b7 shall be assessed a civil penalty of not more than #aj percent of the value of the services or products described in that subsection1 not to exceed #aj1jjj per violation4 #e4 ,credit unions 7a7 ,advances to credit unions ,section #ac of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #cdb7 is amended by inserting ,provided further1 ,that no such nonmember bank or trust company with more than #aj1jjj1jjj1jjj in total consolidated assets may refuse to do business with any person licensed under section #ibc of title #ah1 ,united ,states ,code1 who is in compliance with the law1 based on concerns other than traditional underwriting and credit considerations1 as defined in section #aj;,b7c73 after appropriate34 7b7 ,revocation of ,,ncua insurance ,section #bjf7;b77#a7 of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #aghf7 is amended by inserting or is refusing or has refused to do business with any person licensed under section #ibc of title #ah1 ,united ,states ,code1 who is in compliance with the law1 based on concerns other than traditional underwriting and credit considerations1 as defined in section #aj;,b7c7 of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #cdg;b7c771 after as an insured credit union14 #f4 ,use of ,automated ,clearing ,house ,network 7a7 ,definitions ,in this section3 7#a7 ,covered credit union ,the term covered credit union means-- 7,a7 any insured credit union1 as defined in section #aja of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #ageb72 or 7,b7 any credit union that is eligible to make application to become an insured credit union under section #bja of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #agha74 7#b7 ,member bank ,the term member bank has the meaning given the term in the third undesignated paragraph of the first section of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #bba74 7b7 ,prohibition ,no covered credit union or member bank with more than #aj1jjj1jjj1jjj in total consolidated assets may use the ,automated ,clearing ,house ,network if that member bank refuses to do business with any person licensed under section #ibc of title #ah1 ,united ,states ,code1 who is in compliance with the law1 based on concerns other than traditional underwriting and credit considerations1 as defined in section #aj;,b7c7 of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #cdg;b7c771 as added by section #c7;a7 of this ,act4