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HR 1375 108th Congress House Finance and Financial Sector Administrative procedure Affiliated corporations Antitrust law Auditing Bank capital Bank deposits Bank employees Bank examination Bank failures Bank fraud Bank holding companies Bank loans Bank management Bank mergers Bank records Bonds Branch banking Brokers Cemeteries and funerals

Business Checking Freedom Act of 2004

Introduced: March 20, 2003 Introduced by: Capito, Shelley Moore Republican · West Virginia See on congress.gov
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) 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 37 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 22, 2004
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 18, 2004
Motion to reconsider laid on the table Agreed to without objection.
Mar 18, 2004
On passage Passed by the Yeas and Nays: 392 - 25 (Roll no. 69).
Mar 18, 2004
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1375.
Mar 18, 2004
POSTPONED VOTE - At the conclusion of debate on the Kelly amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mrs. Kelly deanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
Mar 18, 2004
DEBATE - Pursuant to House Resolution 566, the Committee of the Whole proceeded with ten minutes of debate on the Kelly amendment.
Mar 18, 2004
POSTPONED VOTE - At the conclusion of debate on the Jackson-Lee amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Jackson-Lee demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
Mar 18, 2004
DEBATE - Pursuant to House Resolution 566 the Committee of the Whole proceeded with ten minutes of debate on the Jackson-Lee amendment.
Mar 18, 2004
POSTPONED VOTE - At the conclusion of debate on the Weiner amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Weiner demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
Mar 18, 2004
DEBATE - Pursuant to House Resolution 566 the Committee of the Whole proceeded with ten minutes of debate on the Weiner amendment.
Mar 18, 2004
DEBATE - Pursuant to House Resolution 566 the Committee of the Whole proceeded with ten minutes of debate on the Bachus amendment.
Mar 18, 2004
DEBATE - Pursuant to House Resolution 566 the Committee of the Whole proceeded with ten minutes of debate on the Waters amendment.
Mar 18, 2004
DEBATE - Pursuant to House Resolution 566 the Committee of the Whole proceeded with twenty minutes of debate on the Oxley amendment.
Mar 18, 2004
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1375.
Mar 18, 2004
The Speaker designated the Honorable Ray LaHood to act as Chairman of the Committee.
Mar 18, 2004
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 566 and Rule XVIII.
Mar 18, 2004
Rule provides for consideration of H.R. 1375 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order.
Mar 18, 2004
Considered under the provisions of rule H. Res. 566. (consideration: CR H1234-1241, H1274; text of measure as reported in House: CR H1251-1262)
Mar 18, 2004
Rule H. Res. 566 passed House.
Mar 17, 2004
Rules Committee Resolution H. Res. 566 Reported to House. Rule provides for consideration of H.R. 1375 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order.
Mar 16, 2004
Supplemental report filed by the Committee on Financial Services, H. Rept. 108-152, Part III.
Jul 14, 2003
Placed on the Union Calendar, Calendar No. 113.
Jul 14, 2003
Reported (Amended) by the Committee on Judiciary. H. Rept. 108-152, Part II.
Jul 9, 2003
Ordered to be Reported (Amended) by Voice Vote.
Jul 9, 2003
Committee Consideration and Mark-up Session Held.
Jul 3, 2003
Subcommittee on Commercial and Administrative Law Discharged.
Jun 25, 2003
Referred to the Subcommittee on Commercial and Administrative Law.
Jun 12, 2003
Referred sequentially to the House Committee on the Judiciary for a period ending not later than July 14, 2003 for consideration of such provisions of the bill and amendment as fall within the jurisdiction of that committee pursuant to clause 1(k), rule X.
Jun 12, 2003
Reported (Amended) by the Committee on Financial Services. H. Rept. 108-152, Part I.
May 21, 2003
Ordered to be Reported (Amended) by Voice Vote.
May 21, 2003
Committee Consideration and Mark-up Session Held.
Apr 9, 2003
Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.
Apr 9, 2003
Subcommittee Consideration and Mark-up Session Held.
Mar 27, 2003
Subcommittee Hearings Held.
Mar 27, 2003
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Mar 20, 2003
Referred to the House Committee on Financial Services.
Mar 20, 2003
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Mar 18, 2004 House · vote #69 On Passage Passed 392–25 See who voted →
 Amendments to this bill 6

Amendments propose changes to this bill. Members vote on amendments separately before the final bill vote. An agreed amendment becomes part of the bill; a failed amendment does not.

4 agreed to 2 failed

AmendmentSponsorPurposeStatusLatest action
HAMDT 486 — An amendment numbered 6 printed in House Report 108-439 to add a new title at the end of the bill that remove… Agreed to Mar 18, 2004
HAMDT 485 — An amendment numbered 5 printed in House Report 108-439 to express the sense of Congress that in situations w… Failed Mar 18, 2004
HAMDT 484 — An amendment numbered 4 printed in House Report 108-439 to prohibit commercial banks from charging a fee to t… Failed Mar 18, 2004
HAMDT 483 — An amendment numbered 3 printed in House Report 108-439 to strike section 614 relating to the liability stand… Agreed to Mar 18, 2004
HAMDT 482 Waters, Maxine An amendment numbered 2 printed in House Report 108-439 to strike section 609 of the bill. Section 609 reduce… Agreed to Mar 18, 2004
HAMDT 481 — An amendment numbered 1 printed in House Report 108-439 to limit de novo branching for ILCs to those whose bu… Agreed to Mar 18, 2004
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 Plain-English summary Congressional Research Service
Financial Services Regulatory Relief Act of 2003 - Amends the Revised Statutes of the United States to: (1) revise capital stock ownership requirements for directors of national banks and national bank dividends; and (2) repeal the capital requirements for new intrastate branches, including capital stock and surplus requirements.

Amends the Home Owners' Loan Act to prescribe guidelines for investments by a Federal savings association to promote the public welfare, including that of low- and moderate-income communities or families through housing, services, and jobs.

Permits mergers of Federal savings association with nondepository institution affiliates.

Amends the Federal Home Loan Bank Act to permit certain privately insured credit unions to become Federal Home Loan Bank members.

Amends the Federal Credit Union Act (FCUA) to: (1) authorize a credit union to make investment securities for its own account; (2) increase the 12-year loan limitation to 15 years; (3) increase the investment limit in credit union service organizations; (4) exempt loans to nonprofit religious organizations from the restrictions relating to credit union net worth or capitalization standards; and (5) exempt multiple common-bond credit union mergers and conversions from numerical limitations.

Amends the FDIA to permit interstate bank mergers between insured banks with different home States.

Amends the National Bank Consolidation and Merger Act to permit the merger of a national bank which is a trust company with any trust company with a different home State under the same terms and conditions as though they were located in the same State.

Amends the National Bank Receivership Act and the FDIA to permit a bank placed in receivership to bring an action for a Federal court order requiring removal of the receiver.

Amends the FRA and the Bank Holding Company Act Amendments of 1970 to repeal specified insider lending reporting requirements.

Amends the Depository Institution Management Interlocks Act to quintuple the size of the assets of a small depository institution exempt from the prohibition against depository institution management interlocks in the same metropolitan statistical area.

Amends the Bank Holding Company Act of 1956 to exempt from the proscription against cross marketing of commercial activities those depository institutions that are controlled by a twenty-five percent (or less) holding-company-shareholder.

What's happening now March 22, 2004

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Related & companion bills 1
  • HRES 566 Procedurally related Providing for consideration of the bill (H.R. 1375) to provide regulatory relief and improve productivity for insured d…
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 5
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APA
U.S. Congress. (2026). H.R. 1375: Financial Services Regulatory Relief Act of 2004. 108th Congress. Open America. https://openamerica.io/bill/108-HR-1375/
MLA
"H.R. 1375: Financial Services Regulatory Relief Act of 2004." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-HR-1375/.
Bluebook (legal)
H.R. 1375, 108th Cong. (2026), https://openamerica.io/bill/108-HR-1375/.
Markdown link
[H.R. 1375: Financial Services Regulatory Relief Act of 2004](https://openamerica.io/bill/108-HR-1375/)
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