Expanded Access to Financial Services Act of 2003

Expanded Access to Financial Services Act of 2003 - Amends the Federal Credit Union Act to authorize a Federal credit union to: (1) sell to persons in the field of membership negotiable checks (including travelers checks), money orders, and similar money transfer instruments; and (2) cash checks and money orders for such persons for a fee. (Current law authorizes such services to members only.)

[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1492 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                H. R. 1492

 To amend the Federal Credit Union Act to provide expanded access for 
 persons in the field of membership of a Federal credit union to money 
                   order and check cashing services.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 27, 2003

   Mr. Ose (for himself, Mr. Gonzalez, Mr. Paul, Mr. Gutierrez, Mr. 
 LaTourette, Mr. Kanjorski, and Mr. Sherman) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Federal Credit Union Act to provide expanded access for 
 persons in the field of membership of a Federal credit union to money 
                   order and check cashing services.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Expanded Access to Financial 
Services Act of 2003''.

SEC. 2. FEDERAL CREDIT UNION ACT AMENDMENT.

    Paragraph (12) of section 107 of the Federal Credit Union Act (12 
U.S.C. 1757(12)) is amended to read as follows:
            ``(12) in accordance with regulations prescribed by the 
        Board--
                    ``(A) to sell, to persons in the field of 
                membership, negotiable checks (including travelers 
                checks), money orders, and other similar money transfer 
                instruments; and
                    ``(B) to cash checks and money orders for persons 
                in the field of membership for a fee;''.
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