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This bill would stop the General Services Administration, or GSA, from giving federal contracts to certain banks and their affiliates if those banks refuse to do business with companies that are legally operating, and they do so only because of social or political views. In simple terms, the bill says the government should not hire banks that “blacklist” lawful businesses for non-financial reasons tied to social policy. It would apply only to new contracts, not to contracts already in place before the law takes effect.
- The rule would cover insured banks, as well as affiliates of those banks, if they avoid working with lawful companies because of social policy concerns.
- The General Services Administration would be barred from awarding contracts to those institutions.
- Any contract already awarded before the bill becomes law would not be affected.
Official Summaries
No Red and Blue Banks Act
This bill prohibits the General Services Administration from awarding a contract to a depository institution insured by the Federal Deposit Insurance Corporation if the institution avoids doing business with companies based solely on social policy considerations.
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 379 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
1st Session
S. 379
To prohibit the General Services Administration from awarding contracts
to certain insured depository institutions that avoid doing business
with certain companies that are engaged in lawful commerce based solely
on social policy considerations.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 4, 2025
Mr. Kennedy (for himself and Mr. Cramer) introduced the following bill;
which was read twice and referred to the Committee on Homeland Security
and Governmental Affairs
_______________________________________________________________________
A BILL
To prohibit the General Services Administration from awarding contracts
to certain insured depository institutions that avoid doing business
with certain companies that are engaged in lawful commerce based solely
on social policy considerations.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``No Red and Blue Banks Act''.
SEC. 2. INSURED DEPOSITORY INSTITUTIONS.
(a) In General.--The General Services Administration may not award
a contract to an insured depository institution, as defined in section
3 of the Federal Deposit Insurance Act (12 U.S.C. 1813), or an
affiliate of a depository institution if the insured depository
institution or affiliate avoids doing business with certain companies
that the insured depository institution or affiliate believes are
engaged in lawful commerce based solely on social policy
considerations.
(b) Applicability.--This Act shall not apply to any contract
awarded before the date of enactment of this Act.
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