To provide that certain regulations proposed by the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation relating to practices of financial institutions shall not take effect.
Know Your Customer Program Abolishment Act - Prohibits certain proposed "know your customer" regulations published in the Federal Register on December 7, 1998, by the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation from being published in final form. Terminates any such regulation that has become effective before the enactment of this Act. Prohibits such agencies from prescribing any similar regulation.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E155-156)
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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