H.R. 41 · 110th Congress
Business Checking Fairness Act of 2007
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
VelázquezSponsor7 cosponsors · 3 D, 4 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Business Checking Fairness Act of 2007 - Amends federal law to authorize interest-bearing or dividend-bearing transaction accounts for all businesses, permitting up to 24 transfers per month to another account of the owner in the same institution.
What it does: CRS summary · Introduced in House · Jan 4, 2007
Business Checking Fairness Act of 2007 - Amends federal law to authorize interest-bearing or dividend-bearing transaction accounts for all businesses, permitting up to 24 transfers per month to another account of the owner in the same institution.
Amends the Federal Reserve Act, the Home Owners' Loan Act, and the Federal Deposit Insurance Act to repeal the prohibition against the payment of interest on demand deposits.
Amends the Federal Reserve Act to require the Board to survey biennially and report biennially to Congress on bank fees and certain services.
Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, to repeal certain reporting requirements.
Cites practices which shall not be treated as payment or receipt of interest if they relate to an escrow account maintained at a depository institution in connection with a real estate transaction.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Business Checking Fairness Act of 2007
Latest action (Jan 4, 2007): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jan 4, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.