S 2348
118th Congress
Senate
Finance and Financial Sector
Payments Modernization Act of 2023
Introduced: July 18, 2023
Introduced by:
Van Hollen, Chris
Democratic
· Maryland
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 18, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 18, 2023
Introduced in Senate
Plain-English summary
Payments Modernization Act of 2023
This bill requires depository institutions to make deposits available for withdrawal in real time. Under current law, deposits must be made available according to specified schedules based on the type of deposit.
The Government Accountability Office must publish a study on the impact payment delays have on disadvantaged communities.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1
Cosponsors
1