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United States · Bill · S

S. 85 (103rd)

Financial Services Access Act of 1993

referredUnited States· United States Congress· EN

Introduced

21 January 1993

Last action

21 January 1993 · Introduced

Status

Read twice and referred to the Committee on Banking.

Sponsors

Sen. Metzenbaum, Howard M. [D-OH]

Subjects

Postal service

Source updated

26 August 2025

Postal service

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Summary

Financial Services Access Act of 1993 - (Secs. 3-4) Prescribes guidelines under which: (1) each depository institution must offer a basic financial services account under which an account holder may obtain either basic transaction account services or government check cashing account services; and (2) the Board of Governors of the Federal Reserve System (the Board) must develop a model application form for the use of depository institutions offering such accounts. (Secs. 5-6) Sets forth the criteria for basic transaction services accounts and government check cashing services accounts. (Sec. 7) Requires a depository institution to conspicuously disclose the availability of such accounts in its public areas. (Secs. 8-9) Requires certain credit unions to offer basic financial services accounts. Exempts certain depository institutions from the requirements of this Act. (Secs. 10-11) Prescribes guidelines for fraud prevention and administrative enforcement. (Secs. 13-16) Requires a study and report to the Congress by: (1) the Board on the incidence of fraud in connection with government check cashing services; (2) the Secretary of the Treasury on the feasibility of staggering Federal recurring payments; and (3) the Comptroller General on using the Postal Service as a supplemental provider of government check cashing services and on using direct deposit for Federal recurring payments.

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

Timeline

  1. 21 January 1993

    Introduced

    Read twice and referred to the Committee on Banking.

    Source: IntroReferral

  2. 21 January 1993

    Introduced

    Sponsor introductory remarks on measure. (CR S501)

    Source: IntroReferral

  3. 21 January 1993

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 21 January 1993

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  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 21 January 1993

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 21 January 1993

    Open at official source

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Sponsors

Related records

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Sources

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