H.R.4067 - Business Checking Modernization Act106th Congress (1999-2000)
|Sponsor:||Rep. Metcalf, Jack [R-WA-2] (Introduced 03/23/2000)|
|Committees:||House - Banking and Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 106-568|
|Latest Action:||Senate - 04/12/2000 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.4067 — 106th Congress (1999-2000)All Information (Except Text)
Business Checking Modernization Act - Amends the Federal Reserve Act, the Home Owners' Loan Act, and the Federal Deposit Insurance Act to: (1) provide that a depository institution may permit owners of interest or dividend paying accounts to make up to 24 transfers monthly for any purpose to their other demand deposits in the same institution; and (2) repeal the proscription against the payment of interest on demand deposits.
Passed House amended (04/11/2000)
Eliminates the minimum mandatory reserve ratios for depository institutions.