Amends the Expedited Funds Availability Act to redefine the term "receiving depository institution" to mean a branch of a depository institution or the proprietary ATM located in the United States in which a check is first deposited.
Amends the Act to include Guam and American Samoa within the meaning of "State" and "United States."
Extends by two additional business days the current requirement that certain funds be available for withdrawal not later than one business day after receipt for deposit, if the deposit was made: (1) in an account at a depository institution located in Guam or American Samoa; and (2) by a check drawn on a originating depository institution which is not located in the same State as the receiving depository institution.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR H5738)
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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