Lifeline Banking Act

Summary

Lifeline Banking Act - Requires a depository institution, before opening any account or offering any service to a potential customer, to provide a written statement specifying: (1) all services offered; (2) the terms and conditions on which such services are offered; and (3) the fees charged for such services. Requires each depository institution, not less than once a year, to mail a written statement to each of its customers containing such information. Requires each appropriate Federal banking agency to prescribe regulations necessary to carry out the provisions of this Act. Requires each appropriate Federal banking agency, not later than six months after the date of the enactment of this Act, to report to the Congress about services offered by depository institutions and the costs involved. Specifies the information to be included in such reports. Provides for administrative enforcement of the requirements imposed by this Act.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 3 January 1985

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.