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HR 3077 112th Congress House

Freedom and Mobility in Consumer Banking Act

Official title: To amend the Federal Deposit Insurance Act to ensure that customers have the right to immediately close any account at any insured depository institutions on d… Show full official titleShow less

Official title: To amend the Federal Deposit Insurance Act to ensure that customers have the right to immediately close any account at any insured depository institutions on demand, without cost to the consumer, that consumers receive any balance in their account immediately, and for other purposes.

Introduced: November 18, 2011 See on congress.gov
Finance and Financial Sector Bank accounts, deposits, capitalConsumer affairsUser charges and fees
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 21, 2011
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Oct 3, 2011
Referred to the House Committee on Financial Services.
Oct 3, 2011
Introduced in House
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 Latest action October 21, 2011

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Freedom and Mobility in Consumer Banking Act - Amends the Federal Deposit Insurance Act (FDIA) to prohibit an insured depository institution from: (1) prohibiting any person from closing a checking or savings account, regardless of its balance; or (2) charging a fee to close such an account.

Requires a depository institution to close an account within 48 hours after receiving a request from the customer to do so.

Permits an account holder to request that the account be closed in person, over the phone, or by other electronic or remote means, as may be prescribed by regulation.

Sets forth financial institution procedures for closing large accounts and repaying balances, as well as notice and opportunity for accountholder repayment of overdrafts.

Prohibits a depository institution from: (1) imposing fees or charges after receiving a request to close an account, or (2) reopening an account without express account holder request.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 18
All 18 Democratic 7
CHRISTENSEN, DONNA
· Nov 18, 2011
FILNER, BOB
· Nov 18, 2011
HINCHEY, MAURICE
· Nov 18, 2011
 D
Luján, Ben Ray
New Mexico · Nov 18, 2011
 D
Norton, Eleanor Holmes
District of Columbia · Nov 18, 2011
 D
Lofgren, Zoe
California · Nov 3, 2011
 D
Pingree, Chellie
Maine · Nov 3, 2011
 D
Chu, Judy
California · Oct 24, 2011
GUTIERREZ, LUIS
· Oct 24, 2011
PAYNE, DONALD
· Oct 24, 2011
ROTHMAN, STEVEN
· Oct 24, 2011
 D
Schakowsky, Janice D.
Illinois · Oct 24, 2011
VISCLOSKY, PETER
· Oct 24, 2011
 D
Waters, Maxine
California · Oct 24, 2011
JACKSON, JESSE
· Oct 13, 2011
SLAUGHTER, LOUISE
· Oct 13, 2011
WOOLSEY, LYNN
· Oct 13, 2011
CAPUANO, MICHAEL
· Oct 11, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3077: Freedom and Mobility in Consumer Banking Act. 112th Congress. Open America. https://openamerica.io/bill/112-HR-3077/
MLA
"H.R. 3077: Freedom and Mobility in Consumer Banking Act." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-3077/.
Bluebook (legal)
H.R. 3077, 112th Cong. (2026), https://openamerica.io/bill/112-HR-3077/.
Markdown link
[H.R. 3077: Freedom and Mobility in Consumer Banking Act](https://openamerica.io/bill/112-HR-3077/)
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