H.R. 2706 · 115th Congress
Financial Institution Customer Protection Act of 2017
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19 cosponsors · 19 R
12 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced May 25, 2017
- House Passed Dec 11, 2017 395–2
Valid reasons for terminating an account include threats to national security and involvement in terrorist financing, including state sponsorship of terrorism.
What it does: CRS summary · Passed House amended · Dec 11, 2017
Financial Institution Customer Protection Act of 2017
(Sec. 2) This bill specifies that a federal banking agency may not request or order a depository institution to terminate a customer account unless: (1) the agency has a valid reason for doing so, and (2) that reason is not based solely on reputation risk.
Valid reasons for terminating an account include threats to national security and involvement in terrorist financing, including state sponsorship of terrorism.
A federal banking agency requesting a termination must provide the depository institution with notification and justification.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
Votes to become law
About this bill and sources
Official title: Financial Institution Customer Protection Act of 2017
Latest action (Dec 12, 2017): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 25, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML) · Embed in your story
- House Introduced May 25, 2017
- House Passed Dec 11, 2017 395–2
Final vote · House · Dec 11, 2017
Passage (two-thirds required) — Passed. Vote details
Speaker of the House: Paul D. Ryan