An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Discount Window

A program run by the Federal Reserve that allows eligible financial institutions to borrow money, usually for short periods, to meet their immediate liquidity needs or to address temporary shortages of funds. It acts as an emergency lending facility.

Federal Reserve Act

The law passed in 1913 that created the Federal Reserve System, which is the central banking system of the United States. It outlines the Fed's powers, responsibilities, and structure.

Fair Access to Financial Services

The principle that financial institutions should make decisions about providing services based on objective, quantitative financial risk factors, rather than subjective, category-based assessments, biases, or political reasons.

Operation Choke Point

A U.S. government initiative from 2013-2017 that aimed to reduce fraud by scrutinizing financial relationships between banks and certain types of businesses deemed high-risk. Critics argued it unfairly pressured banks to cut off services to lawful industries.

Total Consolidated Assets

The total value of all assets owned by a financial institution, including its subsidiaries. It's a measure of the institution's overall size and financial strength.

Member Bank

A commercial bank that is part of the Federal Reserve System. All nationally chartered banks are automatically member banks, and state-chartered banks can choose to become members.