Funds Availability Act

Summary

Funds Availability Act - Requires the Board of Governors of the Federal Reserve System to promulgate regulations to establish a reasonable period of time within which a depository institution shall permit a retail banking customer to draw on an item received for deposit in such customer's account. Permits a depository institution and retail banking customer to agree in writing to a greater period of time if special circumstances are involved. Declares that the regulations promulgated under this Act shall require each depository institution to: (1) notify each of its retail banking customers, in writing, of the applicable time limitations; and (2) keep posted in a conspicuous place at each branch a notice which substantially sets forth such time limitations.

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

Timeline

1. 29 January 1987

   Introduced

   Introduced in House

   Source: IntroReferral

2. 29 January 1987

   Referred

   Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

   Source: Committee

3. 29 January 1987

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

4. 29 January 1987

   Introduced

   Introduced in House

   Source: IntroReferral

5. 10 August 1987

   Committee

   For Further Action See H.R.27.

   Source: Committee

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 · 29 January 1987

  Open at official source

Sponsors

• Rep. LaFalce, John J. [D-NY-36] · D · Sponsor
• · hsba00 · Standing

Related records

• related to → Competitive Equality Banking Act of 1987