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H.R. 3951 116th Congress House

Payments Modernization Act of 2019

Official title: To amend the Expedited Funds Availability Act to require that funds deposited be available for withdrawal in real time and to require the Board of Governors of… Show full official titleShow less

Official title: To amend the Expedited Funds Availability Act to require that funds deposited be available for withdrawal in real time and to require the Board of Governors of the Federal Reserve System to create a real time payment system, and for other purposes.

Introduced: July 24, 2019 Introduced by: Ayanna Pressley Democratic · Massachusetts See on congress.gov
Finance and Financial Sector Banking and financial institutions regulationConsumer affairsFederal Reserve SystemFinancial services and investmentsPublic utilities and utility rates
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 24, 2019
Referred to the House Committee on Financial Services.
Jul 24, 2019
Introduced in House
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 Latest action July 24, 2019

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Payments Modernization Act of 2019

This bill requires the Federal Reserve Board to create a real-time payment system that allows funds to be available to any end user in real time, including funds deposited at a depository institution.

 Related & companion bills 1
  • S 2243 Payments Modernization Act of 2019
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 7
All 7 Democratic 5
D
Cleaver, Emanuel
Missouri · Nov 12, 2019
 D
Lynch, Stephen F.
Massachusetts · Oct 30, 2019
MALONEY, CAROLYN
· Oct 30, 2019
 D
Meeks, Gregory W.
New York · Sep 25, 2019
Axne, Cynthia
· Sep 10, 2019
 D
Tlaib, Rashida
Michigan · Sep 10, 2019
 D
García, Jesús G. "Chuy"
Illinois · Jul 24, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3951: Payments Modernization Act of 2019. 116th Congress. Open America. https://openamerica.io/bill/116-HR-3951/
MLA
"H.R. 3951: Payments Modernization Act of 2019." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-3951/.
Bluebook (legal)
H.R. 3951, 116th Cong. (2026), https://openamerica.io/bill/116-HR-3951/.
Markdown link
[H.R. 3951: Payments Modernization Act of 2019](https://openamerica.io/bill/116-HR-3951/)
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