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HR 1971 99th Congress House

Banking Confidence Act of 1985

Official title: A bill to encourage all depository institutions to apply for Federal deposit insurance.

Introduced: April 3, 1985 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
Finance and Financial Sector Bank depositsCredit unionsDeposit insuranceFederal Reserve System
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Government Operations and PoliticsNational banksSavings and loan associationsSavings banks
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This bill died when the 99th Congress ended
It never became law before the 99th Congress (1985–1986) 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
Apr 3, 1985
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Apr 3, 1985
Referred to House Committee on Banking, Finance and Urban Affairs.
Apr 3, 1985
Introduced in House
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 Latest action April 3, 1985

Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

 Plain-English summary Congressional Research Service

Banking Confidence Act of 1985 - Amends the Federal Deposit Insurance Corporation Act, the National Housing Act, and the Federal Credit Union Act to prohibit, two years after the enactment of this Act: (1) the provision of Federal deposit insurance for the deposits of any institution which is engaged in business and the deposits of which either are not insured or are insured by a State-operated or privately-operated insurance fund; and (2) the Board of Governors of the Federal Reserve System or any Federal Reserve bank from providing any financial assistance to such an institution.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 1971: Banking Confidence Act of 1985. 99th Congress. Open America. https://openamerica.io/bill/99-HR-1971/
MLA
"H.R. 1971: Banking Confidence Act of 1985." 99th Congress, 2026, Open America, https://openamerica.io/bill/99-HR-1971/.
Bluebook (legal)
H.R. 1971, 99th Cong. (2026), https://openamerica.io/bill/99-HR-1971/.
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[H.R. 1971: Banking Confidence Act of 1985](https://openamerica.io/bill/99-HR-1971/)
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