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HR 621 106th Congress House

Know Your Customer Program Abolishment Act

Official title: To provide that certain regulations proposed by the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Board of Governors of th… Show full official titleShow less

Official title: To provide that certain regulations proposed by the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation relating to practices of financial institutions shall not take effect.

Introduced: March 10, 1999 See on congress.gov
Finance and Financial Sector Administrative procedureBank accountsBank recordsCommerce
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Crime and Law EnforcementDepartment of the TreasuryFederal Deposit Insurance CorporationFederal Reserve SystemFinancial institutionsGovernment Operations and PoliticsGovernment corporationsGovernment paperworkLawMoneyMoney laundering
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) 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
Feb 25, 1999
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Feb 8, 1999
Referred to the House Committee on Banking and Financial Services.
Feb 8, 1999
Sponsor introductory remarks on measure. (CR E155-156)
Feb 8, 1999
Introduced in House
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 Latest action February 25, 1999

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Know Your Customer Program Abolishment Act - Prohibits certain proposed "know your customer" regulations published in the Federal Register on December 7, 1998, by the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation from being published in final form. Terminates any such regulation that has become effective before the enactment of this Act. Prohibits such agencies from prescribing any similar regulation.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 1
FROST, MARTIN
· Mar 16, 1999
 D
Smith, Adam
Washington · Mar 10, 1999
Toomey, Patrick
· Mar 9, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 621: Know Your Customer Program Abolishment Act. 106th Congress. Open America. https://openamerica.io/bill/106-HR-621/
MLA
"H.R. 621: Know Your Customer Program Abolishment Act." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-621/.
Bluebook (legal)
H.R. 621, 106th Cong. (2026), https://openamerica.io/bill/106-HR-621/.
Markdown link
[H.R. 621: Know Your Customer Program Abolishment Act](https://openamerica.io/bill/106-HR-621/)
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