To provide access to basic banking services.
Basic Banking Services Access Act of 1989 - Requires each depository institution to: (1) offer a basic financial services account to low- and moderate-income persons under prescribed guidelines which include specified minimal deposit, balance, and withdrawal requirements; and (2) post a conspicuous notice of the availability of such accounts to its customers.
Prescribes administrative enforcement guidelines.
Subjects a depository institution to civil liability for noncompliance with this Act.
Subcommittee on Consumer and Regulatory Affairs. Hearings concluded. Hearings printed: S.Hrg. 101-471.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Consumer Affairs and Coinage.
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