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United States · Bill · HR

H.R. 799 (109th)

Consumer Checking Account Fairness Act

referredUnited States· United States Congress· EN

Introduced

15 February 2005

Last action

4 April 2005 · Referred

Status

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Sponsors

Rep. Maloney, Carolyn B. [D-NY-12], Sen. Sanders, Bernard [I-VT], Rep. Watson, Diane E. [D-CA-33], Rep. Waters, Maxine [D-CA-43], Rep. Miller, George [D-CA-11], Rep. Engel, Eliot L. [D-NY-16], Rep. McDermott, Jim [D-WA-7], Rep. Weiner, Anthony D. [D-NY-9], Rep. Gutierrez, Luis V. [D-IL-4], Rep. Jackson, Jesse L., Jr. [D-IL-2], Rep. Cummings, Elijah E. [D-MD-7], Rep. Kucinich, Dennis J. [D-OH-10], Rep. Filner, Bob [D-CA-51], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Farr, Sam [D-CA-20], Rep. Kildee, Dale E. [D-MI-5], Rep. Lipinski, Daniel [D-IL-3], Sen. Van Hollen, Chris [D-MD], Rep. Eshoo, Anna G. [D-CA-18], Rep. Stark, Fortney Pete [D-CA-13], Rep. Evans, Lane [D-IL-17], Rep. Lewis, John [D-GA-5], Rep. Lofgren, Zoe [D-CA-18], Rep. Waxman, Henry A. [D-CA-33], Rep. Owens, Major R. [D-NY-11], Rep. Grijalva, Raúl M. [D-AZ-7], ROBERT BRADY, Rep. Honda, Michael M. [D-CA-15]

Subjects

Discovery layer

Source updated

15 August 2025

Official sourceDownload fileView documentsShare

Summary

Consumer Checking Account Fairness Act - Amends the Expedited Funds Availability Act to direct the Board of Governors of the Federal Reserve System to prescribe regulations to: (1) reduce the expedited funds availability time periods to take into account the time within which any receiving institution can reasonably expect to learn of the nonpayment of most items for each category of checks under the Checking Clearing for the 21st Century Act (Check 21 Act) or its implementing regulations; and (2) eliminate distinctions between the time period schedules if the Board finds that they no longer have any significance for any category of checks under such Act or regulations. Extends the next business day availability requirement to funds deposited at a proprietary ATM. Sets a limit upon certain overdraft fees imposed during a check hold period. Requires a depository institution to credit all deposits to a consumer checking account before debiting any check drawn on the account and presented for payment. Requires that Saturday be treated as a business day in the calculation of any period within which funds deposited in an account are required to be made available if the depository institution debits accounts on Saturdays for checks received. Reduces from four business days to two business days the mandatory check hold period on funds deposited by nonlocal checks. Prohibits a depository institution from imposing a fee for paying any check drawn on an account which lacks sufficient funds (bounce protection) unless the accountholder has requested check protection service. Amends the Check 21 Act to provide that if a bank that holds the account of a consumer imposes any fee for producing a copy of a substitute check, the expedited recredit process shall be available for all charges initiated by check against the account regardless of whether a substitute check was involved or provided to the consumer.

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

Timeline

  1. 15 February 2005

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 15 February 2005

    Introduced

    Sponsor introductory remarks on measure. (CR E232-233)

    Source: IntroReferral

  3. 15 February 2005

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 15 February 2005

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 4 April 2005

    Referred

    Referred to the Subcommittee on Financial Institutions and Consumer Credit.

    Source: Committee

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 15 February 2005

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  • Introduced in House (PDF)

    Introduced in House · EN · 15 February 2005

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 15 February 2005

    Open at official source

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Sponsors

Related records

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Sources

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