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HR 1023 102th Congress House Finance and Financial Sector Bank marketing Consumer protection Fraud Securities regulation

Depositor Protection and Fraud Act of 1991

Introduced: February 20, 1991 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 1, 1991
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Feb 20, 1991
Referred to the House Committee on Banking, Finance + Urban Affrs.
Feb 20, 1991
Introduced in House
 Plain-English summary Congressional Research Service

Depositor Protection and Fraud Act of 1991 - Amends the Federal Deposit Insurance Act to prohibit an insured depository institution from marketing any interests in the institution or its affiliates in any office space which is commonly accessible to the general public for the purpose of accepting deposits.

Grants a Federal banking agency regulatory authority to grant exemptions according to prescribed guidelines. Exempts from such guidelines sales transactions by registered brokers and dealers whose sales practice standards are consistent with this Act and are in the public interest.

Sets a deadline by which each appropriate Federal banking agency must prescribe implementing regulations.

What's happening now March 1, 1991

Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

 Committees of jurisdiction 2