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S. 2243 116th Congress Senate

Payments Modernization Act of 2019

Official title: A bill to amend the Expedited Funds Availability Act to require that funds deposited be available for withdrawal in real-time, and for other purposes.

Introduced: July 24, 2019 Introduced by: Chris Van Hollen Democratic · Maryland See on congress.gov
Commerce 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 30, 2019
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-104.
Jul 24, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 24, 2019
Introduced in Senate
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 Latest action July 30, 2019

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-104.

 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
  • HR 3951 Payments Modernization Act of 2019
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Warren, Elizabeth
Massachusetts · Jul 24, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2243: Payments Modernization Act of 2019. 116th Congress. Open America. https://openamerica.io/bill/116-S-2243/
MLA
"S. 2243: Payments Modernization Act of 2019." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-2243/.
Bluebook (legal)
S. 2243, 116th Cong. (2026), https://openamerica.io/bill/116-S-2243/.
Markdown link
[S. 2243: Payments Modernization Act of 2019](https://openamerica.io/bill/116-S-2243/)
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