H.R. 4415 · 109th Congress
Consumer Checking Fairness Act
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MeekSponsor2 cosponsors · 2 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Consumer Checking Fairness Act - Amends the Expedited Funds Availability Act to require a depository institution to post checks presented for payment against a checking account used primarily for personal, family, or household purposes after the close of any business day in the numerical order of the checks, beginning with the lowest number.
What it does: CRS summary · Introduced in House · Nov 18, 2005
Consumer Checking Fairness Act - Amends the Expedited Funds Availability Act to require a depository institution to post checks presented for payment against a checking account used primarily for personal, family, or household purposes after the close of any business day in the numerical order of the checks, beginning with the lowest number.
Requires customer notification and consent for a different posting order.
Requires a depository institution to credit all deposits to such account after the close of any business day before debiting any check drawn on the account and presented for payment.
Directs the Board of Governors of the Federal Reserve System to prescribe implementing regulations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Consumer Checking Fairness Act
Latest action (Jan 5, 2006): Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Nov 18, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.