No Red and Blue Banks Act

# No Red and Blue Banks Act Summary **What the Bill Would Do** This bill would prevent the federal government from awarding contracts to banks that refuse to do business with companies based on the banks' social or political views. Specifically, it targets depository institutions (banks and credit unions) insured by the Federal Deposit Insurance Corporation. The General Services Administration, which handles federal contracts and purchases, would be prohibited from hiring banks that have excluded companies for reasons like environmental concerns, gun manufacturing, fossil fuel production, or other policy-driven decisions. **Who It Affects and Key Provisions** The bill would primarily affect major banks and financial institutions that have adopted socially conscious lending practices, as well as the companies they currently exclude from services. It also impacts federal agencies that manage government accounts and contracts with financial institutions.

The measure would essentially require banks receiving federal contracts to provide services regardless of their views on a company's business practices or social impact. **Current Status** The bill (S. 379) was introduced in the 119th Congress by Senator John Kennedy (R-LA) and is currently in committee, meaning it has not yet been voted on by the full Senate. The bill has not advanced beyond the initial committee review stage.