Latest Action: 10/03/2008 - Referred to the House Committee on Financial Services. Bill TextTo provide for a temporary increase in the maximum insured amount limitation for deposit insurance and credit union share insurance to $250,000, and for other purposes. 10/3/2008--Introduced. Temporary Increase in FDIC and Credit Union Insurance Act of 2008 - Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to establish a temporary increase from $100,000 to $250,000, through December 31, 2009, in the maximum insured amount limitation for deposit insurance and credit union share insurance.
Also tagged in: Congress, Congressional employees, Congressional salaries, Electronic data interchange, Electronic funds transfers, Electronic government information, Finance, Government employees, Government information, House of Representatives, Labor, Members of Congress, Payroll deductions, Tax returns, Taxation, Technology, Telecommunication, Withholding tax
Latest Action: 09/11/2008 - ORDER OF PROCEDURE - Mr. Hoyer asked unanimous consent that the motion to suspend the rules be considered as adopted in the form considered by the House on Tuesday, September 9, 2008. (consideration: CR H8025) Bill TextDirecting the Chief Administrative Officer of the House of Representatives to provide individuals whose pay is disbursed by the Chief Administrative Officer by electronic funds transfer with the option of receiving receipts of pay and withholdings electronically. 9/11/2008--Passed House amended. (There are 2 other summaries) (This measure has not been amended since it was reported to the House on September 8, 2008. The summary of that version is repeated here.) Requires the Chief Administrative Officer (CAO) of the House of Representatives to take necessary steps to provide individuals whose pay is disbursed by the CAO, by electronic funds transfer, with the option of: (1) receiving electronic receipt of such pay and its accompanying withholdings; (2) viewing electronically the individual's employee statement required under the Internal Revenue Code; and (3) revising electronically the individual's number of deductions and withholdings [...] show full description
Also tagged in: Commemorations, Congressional tributes, Electronic funds transfers, Finance, Old age, survivors and disability insurance, Social security, Social security beneficiaries, Special months, Technology, Telecommunication Latest Action: 02/05/2008 - Submitted in the Senate, considered, and agreed to without amendment and with a preamble by Unanimous Consent. (consideration: CR S671; text as passed Senate: CR S671; text of measure as introduced: CR S662) Bill TextA resolution designating February 2008 as "Go Direct Month." 2/5/2008--Passed Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Designates February 2008 as "Go Direct Month." Supports the goals and ideals of the "Go Direct" campaign. Commends federal, state, and local governments, nonprofit agencies, and the private sector for promoting February as "Go Direct Month." Encourages people in the United States who are eligible to receive Social Security or other federal benefit payments to: (1) participate in events and awareness initiatives held during February; (2) become informed about the convenience and safety of direct deposit; and (3) consider signing up for direct deposit of federal benefit payments.
Latest Action: 07/10/2007 - Referred to the House Committee on Financial Services. Bill TextTo protect innocent parties from certain fees imposed by depository institutions for dishonored checks, and for other purposes. 7/10/2007--Introduced. Innocent Check Depositor Protection Act - Amends the Expedited Funds Availability Act to prohibit a receiving depository institution from imposing check dishonorment fees upon a depositor if the check is drawn on an account at an originating institution which subsequently dishonors it for lack of sufficient funds. States that this Act shall not be construed as affecting any intervening depository institution or the costs of services it provides.
Also tagged in: Agriculture, Agriculture in foreign trade, Airline passenger traffic, Budgets, Caribbean area, Civil liberties, Cuba, Cubans, Excise tax, Export controls, Finance, Foreign banks and banking, Foreign trade promotion, Government trust funds, Intellectual property, International banking, International finance, Latin America, Medical care, Medical instruments and apparatus, Medical supplies, Medicine, President and foreign policy, Presidents, Right to travel, Taxation, Trade, Transportation, Visas
Latest Action: 12/11/2007 - Committee on Finance. Hearings held. Bill TextA bill to facilitate the export of United States agricultural products to Cuba as authorized by the Trade Sanctions Reform and Export Enhancement Act of 2000, to remove impediments to the export to Cuba of medical devices and medicines, to allow travel to Cuba by United States citizens, to establish an agricultural export promotion program with respect to Cuba, and for other purposes. 6/21/2007--Introduced. Promoting American Agricultural and Medical Exports to Cuba Act of 2007 - Prohibits the President from restricting direct transfers from a Cuban depository institution to a U.S. depository institution in payment for a product authorized for sale under the Trade Sanctions Reform and Export Enhancement Act of 2000. Directs the Secretary of Agriculture to provide information and technical assistance to U.S. agricultural producers, cooperative organizations, or state agencies to promote U.S. agricultural exports products to Cuba. Expresses the sense of Congress [...] show full description
Also tagged in: Agriculture, Agriculture in foreign trade, Airline passenger traffic, Budgets, Caribbean area, Civil liberties, Cuba, Cubans, Excise tax, Export controls, Finance, Foreign banks and banking, Foreign trade promotion, Government trust funds, Intellectual property, International banking, International finance, Latin America, Medical care, Medical instruments and apparatus, Medical supplies, Medicine, President and foreign policy, Presidents, Right to travel, Taxation, Trade, Transportation, Visas
Latest Action: 07/18/2007 - Sponsor introductory remarks on measure. (CR E1552) Bill TextTo facilitate the export of United States agricultural products to Cuba as authorized by the Trade Sanctions Reform and Export Enhancement Act of 2000, to remove impediments to the export to Cuba of medical devices and medicines, to allow travel to Cuba by United States legal residents, to establish an agricultural export promotion program with respect to Cuba, and for other purposes. 6/21/2007--Introduced. Promoting American Agricultural and Medical Exports to Cuba Act of 2007 - Prohibits the President from restricting direct transfers from a Cuban depository institution to a U.S. depository institution in payment for a product authorized for sale under the Trade Sanctions Reform and Export Enhancement Act of 2000. Directs the Secretary of Agriculture to provide information and technical assistance to U.S. agricultural producers, cooperative organizations, or state agencies to promote U.S. agricultural exports products to Cuba. Authorizes the issuance of temporary [...] show full description
Also tagged in: Bank accounts, Economic policy, Federal reserve system, Finance, Government information, Government paperwork, Government publicity, Monetary policy, Money, Money market funds, Mutual funds, NOW accounts
Latest Action: 06/15/2007 - Sponsor introductory remarks on measure. (CR E1304-1305) Bill TextTo require the Board of Governors of the Federal Reserve System to continue to make available to the public on a weekly basis information on the measure of the M3 monetary aggregate, and its components, and for other purposes. 6/15/2007--Introduced. Sunshine in Monetary Policy Act - Requires the Board of Governors of the Federal Reserve System to continue to compile and to publish on a weekly basis the measure of the M3 monetary aggregate and the components of the M3 that are not included in the measure of the M2 monetary aggregate. Defines "M3 monetary aggregate" as the inclusive measure of money compiled by: (1) currency in circulation (plus traveler's checks), demand deposits, Negotiable Order of Withdrawal (NOW) accounts, and similar interest-earning checking account balances; (2) household holdings of savings deposits, small time deposits, and retail money market mutual fund balances (exclusive of balances held in IRA and Keogh accounts); and (3) institutional [...] show full description
Also tagged in: Bank accounts, Banks and banking, Consumer protection, Consumers, Credit unions, Debtor and creditor, Electronic data interchange, Finance, Financial statements, Fines (Penalties), Law, Saving and investment, Technology, Telecommunication
Latest Action: 05/01/2007 - Sponsor introductory remarks on measure. (CR E898-899) Bill TextTo sunset Federal laws and regulations which treat the American people like children by denying them the opportunity to make their own decision regarding control of their bank accounts and what type of information they wish to receive from their banks, and for other purposes. 5/1/2007--Introduced. Freedom to Bank Act - Terminates any provision of federal law (other than the Internal Revenue Code) that subjects a consumer to a penalty for withdrawing or transferring funds from any transaction account or any savings or time deposit. Declares that no creditor, depository institution, or credit union shall be required to provide periodic statements of account to a customer unless the customer has notified it of an election to receive such statements. Requires such entities to establish a procedure for notifying customers of their right to elect to receive statements of account and the method for implementing such election.
Also tagged in: Actions and defenses, Administrative remedies, Affiliated corporations, Bank examination, Banks and banking, Business, Collection of accounts, Congressional reporting requirements, Consumer complaints, Consumer credit, Consumer protection, Consumers, Damages, Department of the Treasury, Executive departments, Federal preemption, Federal-state relations, Finance, Foreclosure, Fraud, Government information, Government paperwork, Government publicity, Government statistics, Governmental investigations, Housing, Law, Mortgage banks, Mortgages, Restrictive trade practices, Savings and loan associations, State and local government, State laws, Subsidiary corporations
Latest Action: 06/07/2007 - Referred to the Subcommittee on Financial Institutions and Consumer Credit. Bill TextTo clarify the applicability of State law to national banks and Federal savings associations, and for other purposes. 4/23/2007--Introduced. Preservation of Federalism in Banking Act - Amends the Revised Statutes of the United States and the Home Owners' Loan Act to declare applicable to either a national bank or federal savings association any consumer protection in state consumer law of general application (including unfair or deceptive acts or practices, consumer fraud law and repossession, foreclosure, and collection). Declares that when a national bank or federal savings association avails itself of state law for its benefit, all related consumer protections in such state law shall apply. Declares applicable to a national bank or federal savings association: (1) state banking or thrift laws enacted pursuant to federal law; and (2) state laws providing greater protection in high cost mortgage loans (predatory mortgage loans). Permits the Comptroller [...] show full description
Also tagged in: Administrative procedure, Bank records, Banks and banking, Business, Coins and coinage, Congressional reporting requirements, Consumer education, Consumers, Crime prevention, Criminal justice, Department of the Treasury, Economic policy, Executive departments, Finance, Financial institutions, Government information, Government paperwork, Indexing (Economic policy), Law, Money, Money laundering
Latest Action: 03/09/2007 - Referred to the House Committee on Financial Services. Bill TextTo amend sections 5313 and 5318 of title 31, United States Code, to reform certain requirements for reporting cash transactions, and for other purposes. 3/9/2007--Introduced. CTR Modernization Act - Amends federal law governing mandatory reports on currency transactions to exempt depository institutions from the requirement that all domestic financial institutions file a report on every domestic coin and currency transaction. Requires such a depository institution to file a currency transaction report, however, if the transaction involves at least $30,000. Prohibits the Secretary of the Treasury after a certain date from requiring a depository institution to file a currency transaction report regarding a transaction of less than $30,000. Directs the Secretary to: (1) review at least every five years the threshold for reporting currency transactions; and (2) adjust the threshold amount for inflation. Directs the Secretary to prescribe regulations [...] show full description
Also tagged in: Administrative procedure, Bank accounts, Bank loans, Banks and banking, Business, Checks, Consumer education, Consumer protection, Consumers, Contracts, Deceptive advertising, Electronic funds transfers, Federal reserve system, Fees, Finance, Finance charges, Law, Technology, Telecommunication
Latest Action: 04/12/2007 - Referred to the Subcommittee on Financial Institutions and Consumer Credit. Bill TextTo extend the protections of the Truth in Lending Act to overdraft protection programs and services provided by depository institutions, to require customer consent before a depository institution may initiate overdraft protection services and fees, to enhance the information made available to consumers relating to overdraft protection services and fees, to prohibit systematic manipulation in the posting of checks and other debits to a depository account for the purpose of generating overdraft protection fees, and for other purposes. 2/8/2007--Introduced. Consumer Overdraft Protection Fair Practices Act - Amends the Truth in Lending Act to set forth restrictions on: (1) overdraft protection programs or services for consumers; and (2) representations or statements with respect to such a program or service in any advertisement or promotion. Amends the Electronic Fund Transfer Act and the Expedited Funds Availability Act to set forth restrictions on overdraft protection [...] show full description
Also tagged in: Commemorations, Congressional tributes, Electronic funds transfers, Finance, Old age, survivors and disability insurance, Social security, Social security beneficiaries, Special months, Technology, Telecommunication Latest Action: 02/01/2007 - Submitted in the Senate, considered, and agreed to without amendment and with a preamble by Unanimous Consent. (consideration: CR S1541-1542 text as passed Senate: CR S1541-1542 text of measure as introduced: CR S1538) Bill TextA resolution designating March 2007 as "Go Direct Month". 2/1/2007--Passed Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Declares that the Senate: (1) supports the goals and ideals of "Go Direct"; (2) designates March 2007 as "Go Direct Month"; and (3) commends federal, state, and local governments, and the private sector, for promoting March as "Go Direct Month". Encourages the people of the United States to: (1) participate in events and awareness initiatives held during the month of March; (2) become informed about the convenience and safety of direct deposit; and (3) consider signing up for direct deposit of Social Security or other federal benefits.
Also tagged in: Administrative procedure, Bank records, Banks and banking, Business, Coins and coinage, Congressional reporting requirements, Crime prevention, Criminal justice, Department of the Treasury, Executive departments, Finance, Financial institutions, Government information, Government paperwork, Law, Money, Money laundering
Latest Action: 01/24/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo amend section 5313 of title 31, United States Code, to reform certain requirements for reporting cash transactions, and for other purposes. 1/23/2007--Passed House without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Seasoned Customer CTR Exemption Act of 2007 - Amends federal money and finance law to: (1) repeal the authority of the Secretary of the Treasury to exempt a depository institution from currency transaction reporting (CTR) requirements with respect to transactions between the depository institution and a qualified business customer; and (2) instruct the Secretary to prescribe regulations that exempt a depository institution from filing a CTR if the transaction is with a qualified customer. Defines qualified customer as any person that: (1) is incorporated or organized under federal or state law, including a sole proprietorship,[...] show full description
Also tagged in: Budget surpluses, Budgets, Congress, Congressional investigations, Congressional reporting requirements, Debt limit, Finance, Government securities, Government trust funds, Investment of public funds, Old age, survivors and disability insurance, Social security, Social security finance
Latest Action: 01/18/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend title II of the Social Security Act to ensure the integrity of the Social Security trust funds by requiring the Managing Trustee to invest the annual surplus of such trust funds in marketable interest-bearing obligations of the United States and certificates of deposit in depository institutions insured by the Federal Deposit Insurance Corporation, and to protect such trust funds from the public debt limit. 1/4/2007--Introduced. Social Security Preservation Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to require the Managing Trustee of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (social security trust funds) to ensure that the annual surplus of the Social Security Trust Funds is invested in: (1) marketable interest-bearing obligations of the United States or obligations guaranteed by the United States; or (2) certificates [...] show full description
Also tagged in: Automated teller machines, Bank accounts, Bank reserves, Banks and banking, Business, Checks, Congressional reporting requirements, Credit cards, Credit unions, Deposit insurance, Dividends, Electronic commerce, Electronic funds transfers, Fees, Finance, Financial institutions, Financial services, Government information, Government paperwork, Housing, Interest, Internet, Law, Real estate business, Savings and loan associations, Surveys, Technology, Telecommunication, User charges
Latest Action: 01/04/2007 - Referred to the House Committee on Financial Services. Bill TextTo repeal the prohibition on the payment of interest on demand deposits, and for other purposes. 1/4/2007--Introduced. Business Checking Fairness Act of 2007 - Amends federal law to authorize interest-bearing or dividend-bearing transaction accounts for all businesses, permitting up to 24 transfers per month to another account of the owner in the same institution. Amends the Federal Reserve Act, the Home Owners' Loan Act, and the Federal Deposit Insurance Act to repeal the prohibition against the payment of interest on demand deposits. Amends the Federal Reserve Act to require the Board to survey biennially and report biennially to Congress on bank fees and certain services. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, to repeal certain reporting requirements. Cites practices which shall not be treated as payment or receipt of interest [...] show full description
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