H.R.6871 - Expedited Funds Availability Dollar Limits Adjustment Act of 2008110th Congress (2007-2008)
|Sponsor:||Rep. Maloney, Carolyn B. [D-NY-14] (Introduced 09/11/2008)|
|Committees:||House - Financial Services|
|Committee Reports:||H. Rept. 110-917|
|Latest Action:||12/09/2008 Placed on the Union Calendar, Calendar No. 592. (All Actions)|
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Summary: H.R.6871 — 110th Congress (2007-2008)All Information (Except Text)
Reported to House without amendment (12/09/2008)
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Expedited Funds Availability Dollar Limits Adjustment Act of 2008 - Amends the Expedited Funds Availability Act to increase: (1) from $100 to $175 the amount of a federal, state, or local government check that is available for next business day withdrawal; and (2) from $400 to $700 the maximum cash amount of non-government checks available for 5 p.m. withdrawal.
Directs the Board of Governors of the Federal Reserve System to make cost-of-living adjustments to such amounts every five years.