S. 3298 116th Congress Senate

FDIC Act

Official title: A bill to amend the Federal Deposit Insurance Act to permit the Federal Deposit Insurance Corporation to terminate the insured status of a depository instituti… Show full official titleShow less

Official title: A bill to amend the Federal Deposit Insurance Act to permit the Federal Deposit Insurance Corporation to terminate the insured status of a depository institution that refuses to provide services to certain Federal contractors, and for other purposes.

Introduced: February 25, 2020 See on congress.gov

Finance and Financial Sector Bank accounts, deposits, capitalBanking and financial institutions regulationPublic contracts and procurement

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 13, 2020

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

Feb 13, 2020

Introduced in Senate

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Latest action February 13, 2020

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

Plain-English summary Congressional Research Service

Financial Defense for Industrial Contractors Act or the FDIC Act

This bill requires the Federal Deposit Insurance Corporation to begin proceedings for terminating the insured status of large depository institutions that deny banking services to federal contractors that otherwise qualify for such services.

Bill text 1 version