Freedom to Bank Act
Latest action · Apr 4, 2011 Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 15, 2011
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Freedom to Bank Act - Terminates any provision of federal law (other than the Internal Revenue Code) that subjects a consumer to a penalty for withdrawing or transferring funds from any transaction account or any savings or time deposit.
Declares that no creditor, depository institution, or credit union shall be required to provide periodic statements of account to a customer unless the customer has notified it of an election to receive such statements.
Requires such entities to establish a procedure for notifying customers of their right to elect to receive statements of account and the method for implementing such election.
Cosponsors
Members who signed on, in the order they did.
Actions 4
Everything that happened, newest first.
- Apr 4, 2011Referred to the Subcommittee on Financial Institutions and Consumer Credit.
- Mar 15, 2011Introduced in House
- Mar 15, 2011Referred to the House Committee on Financial Services.
- Mar 15, 2011Sponsor introductory remarks on measure. (CR E484)
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Mar 15, 2011Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.