Financial Institution Customer Protection Act of 2019
Latest action · Jan 3, 2019 Referred to the House Committee on Financial Services.
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.
- IntroducedJan 3, 2019
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Financial Institution Customer Protection Act of 2019
This bill specifies that a federal banking agency may not request or order a depository institution to terminate a customer account unless (1) the agency has a valid reason for doing so, and (2) that reason is not based solely on reputation risk.
Valid reasons for terminating an account include threats to national security and involvement in terrorist financing, including state sponsorship of terrorism.
A federal banking agency requesting a termination must provide the depository institution with notification and justification.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Jan 3, 2019Introduced in House
- Jan 3, 2019Referred to the House Committee on Financial Services.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 3003 | Financial Institution Customer Protection Act of 2019 | Related bill | Dec 10, 2019 |
| HR 6800 | The Heroes Act | Related bill | Jul 23, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Administrative law and regulatory procedures
- Asia
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Business records
- Congressional oversight
- Consumer affairs
- Department of the Treasury
- Evidence and witnesses
- Federal Deposit Insurance Corporation (FDIC)
- Federal Reserve System
- Finance and Financial Sector
- Government information and archives
- Iran
- Judicial procedure and administration
- Middle East
- National Credit Union Administration
- North Korea
- Syria
- Terrorism
Text 1
Each version as it was printed, newest first.
- Jan 3, 2019Introduced 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.