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HR 3389 103th Congress House

Depository Institution Mutual Fund Sales Act

Official title: To amend the Federal Deposit Insurance Act to require insured depository institutions to provide notify customers who purchase mutual funds on the premise of t… Show full official titleShow less

Official title: To amend the Federal Deposit Insurance Act to require insured depository institutions to provide notify customers who purchase mutual funds on the premise of the institution that such mutual funds are not insured deposits, and for other purposes.

Introduced: April 14, 1994 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov
Finance and Financial Sector CommerceConsumer educationConsumer protectionDeceptive advertising
More subjectsShow fewer subjects
Deposit insuranceGovernment Operations and PoliticsGovernment paperworkInformation disclosure (Securities law)Mutual fundsSecurities industrySecurities regulation
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This bill died when the 103rd Congress ended
It never became law before the 103rd Congress (1993–1994) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 28, 1993
Sponsor introductory remarks on measure. (CR E2720)
Oct 27, 1993
Referred to the House Committee on Banking, Finance + Urban Affrs.
Oct 27, 1993
Sponsor introductory remarks on measure. (CR H8514)
Oct 27, 1993
Introduced in House
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 Latest action October 28, 1993

Sponsor introductory remarks on measure. (CR E2720)

 Plain-English summary Congressional Research Service

Depository Institution Mutual Fund Sales Act - Amends the Federal Deposit Insurance Act to provide that an insured depository institution shall require a registered investment company conducting business on its premises to disclose in writing to prospective clients that the securities are not deposits and are not insured by the Federal Deposit Insurance Corporation or the Federal Government.

Mandates that such disclosures also be included in any advertising and promotional materials issued by the depository institution with respect to such securities.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Independent 1
LIPINSKI, WILLIAM
· Apr 14, 1994
 I
Sanders, Bernard
Vermont · Feb 2, 1994
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3389: Depository Institution Mutual Fund Sales Act. 103rd Congress. Open America. https://openamerica.io/bill/103-HR-3389/
MLA
"H.R. 3389: Depository Institution Mutual Fund Sales Act." 103rd Congress, 2026, Open America, https://openamerica.io/bill/103-HR-3389/.
Bluebook (legal)
H.R. 3389, 103rd Cong. (2026), https://openamerica.io/bill/103-HR-3389/.
Markdown link
[H.R. 3389: Depository Institution Mutual Fund Sales Act](https://openamerica.io/bill/103-HR-3389/)
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