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Bill

HR 5014

To codify Executive Order 14331 on fair banking.

119th Congress Introduced by Andy Barr and 2 co-sponsors

HR 5014 codifies fair banking principles, ensuring equitable access to financial services for all Americans, especially marginalized communities, by enforcing legal standards.

Introduced in House
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WeVote Research Nonpartisan
Bill Summary · HR 5014

Summary of HR 5014 - To Codify Executive Order 14331 on Fair Banking

Bill Number: HR 5014
Title: To codify Executive Order 14331 on fair banking
Status: Introduced in House
Introduced Date: August 22, 2025
Classification: Bill

Purpose and Intent

The primary purpose of HR 5014 is to codify Executive Order 14331, titled "Guaranteeing Fair Banking for All Americans," which was published in the Federal Register on August 12, 2025. This legislation aims to ensure that the principles outlined in the Executive Order are formally recognized and enforced as law, thereby enhancing the commitment to fair banking practices across the United States.

Key Provisions

  • Codification of Executive Order: The bill states that Executive Order 14331 shall have the force and effect of law. This means that the provisions and guidelines established in the Executive Order will be legally binding and enforceable.

  • Focus on Fair Banking: The Executive Order emphasizes the importance of equitable access to banking services for all Americans, particularly marginalized communities that have historically faced barriers in accessing financial services.

Impact

  • Affected Parties: The bill is expected to impact a wide range of stakeholders, including:

    • Consumers: Individuals seeking fair access to banking services.
    • Financial Institutions: Banks and credit unions that will need to comply with the new legal standards for fair banking practices.
    • Regulatory Agencies: Agencies responsible for enforcing banking regulations will have a clearer mandate to ensure compliance with the principles of fair banking.

  • Potential Benefits: By codifying the Executive Order, the legislation aims to:

    • Promote inclusivity in the banking sector.
    • Reduce discrimination in lending and banking services.
    • Enhance consumer protection and trust in financial institutions.

Legislative Process

  • Committee Referrals: Upon introduction, HR 5014 was referred to the following committees for consideration:
    • Committee on Financial Services
    • Committee on Small Business

The Speaker of the House will determine the period for consideration by these committees, which will review the bill's provisions and their implications.

Conclusion

HR 5014 seeks to solidify the principles of fair banking as outlined in Executive Order 14331 into law, promoting equitable access to banking services for all Americans. The bill's passage could lead to significant changes in how financial institutions operate and serve diverse communities across the nation.

Compiled from official sources — confirm details with the bill’s official record.

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