HR 1059
107th Congress
House
Finance and Financial Sector
Administrative procedure
Bank accounts
Bank deposits
Checking accounts
Commerce
Consumer education
Department of the Treasury
Electronic funds transfers
Federal Deposit Insurance Corporation
Federal Reserve System
Fees
Government Operations and Politics
Law
NOW accounts
Residence requirements
Restrictive trade practices
Science, Technology, Communications
State laws
User charges
Consumer Affordable Transaction Account Act of 2001
Introduced: March 15, 2001
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 26, 2001
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Mar 15, 2001
Referred to the House Committee on Financial Services.
Mar 15, 2001
Introduced in House
Plain-English summary
Consumer Affordable Transaction Account Act of 2001 - Requires each insured depository institution to make available to consumers an "affordable transaction account" containing specified features to be prescribed jointly by the Federal banking agencies, including at least eight free withdrawals per month.
Prohibits the imposition of fees upon such account holders which are discriminatory in nature. Authorizes alternative account arrangements.
Requires notice of availability of affordable transaction accounts to be posted upon the premises in the same manner as the depository institution posts notice of its other account products.
Mandates depository institution compliance with more stringent State law where applicable.
What's happening now
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Committees of jurisdiction
2