Financial Institution Customer Protection Act of 2019

Summary

Financial Institution Customer Protection Act of 2019 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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 3 January 2019

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 3 January 2019

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 January 2019

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 3 January 2019 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 January 2019

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 3 January 2019

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 January 2019

  Open at official source

Sponsors

• Blaine Luetkemeyer · R · Sponsor
• · hsba00 · Standing

Related records

• related to ← Financial Institution Customer Protection Act of 2019
• related to ← The Heroes Act