HR 859
108th Congress
House
Finance and Financial Sector
Bank accounts
Bank deposits
Commerce
Dividends
Housing and Community Development
Interest
Real estate business
Savings and loan associations
Business Checking Freedom Act of 2003
Introduced: February 13, 2003
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 5, 2003
Subcommittee Hearings Held.
Mar 5, 2003
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Feb 13, 2003
Referred to the House Committee on Financial Services.
Feb 13, 2003
Introduced in House
Plain-English summary
Business Checking Freedom Act of 2003 - Amends the Federal Reserve Act, the Home Owners' Loan Act, and the Federal Deposit Insurance Act to repeal the prohibition against the payment of interest on demand deposits.
States that specified actions and benefits relating to an escrow account maintained at a depository institution in connection with a real estate transaction shall not be treated as the payment or receipt of interest for purposes of this Act and the other named Acts.
What's happening now
Subcommittee Hearings Held.
Committees of jurisdiction
2