HR 4427
106th Congress
House
Finance and Financial Sector
Administrative procedure
Bank accounts
Bank deposits
Bank reserves
Checking accounts
Commerce
Consumer education
Department of the Treasury
Electronic funds transfers
Federal Deposit Insurance Corporation
Federal Reserve System
Fees
Government Operations and Politics
Government corporations
Interest
Law
NOW accounts
National Credit Union Administration
Residence requirements
Banking Equal Treatment Act of 2000
Introduced: May 11, 2000
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 11, 2000
Referred to the House Committee on Banking and Financial Services.
May 11, 2000
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
May 11, 2000
Sponsor introductory remarks on measure. (CR E713-714)
May 11, 2000
Introduced in House
Plain-English summary
Banking Equal Treatment Act of 2000 - Amends the Federal Reserve Act to authorize: (1) a Federal reserve bank to pay interest on earnings at least quarterly on depository institution balances maintained at a Federal reserve bank; and (2) the Board of Governors of the Federal Reserve System to prescribe implementing regulations.
Requires the Federal reserve banks to transfer specified surplus funds to the Board for transfer to the Secretary of the Treasury for deposit in the general fund of the Treasury for FY 2001 through 2005. Prohibits replenishment of the surplus fund during the fiscal year for which such transfer is made.
Mandates that each insured depository institution make available to consumers a consumer transaction account to be known as an "affordable transaction account". Sets forth operational parameters to be prescribed by the Board.
What's happening now
Referred to the House Committee on Banking and Financial Services.
Committees of jurisdiction
2