To amend the Expedited Funds Availability Act to provide a 1-time adjustment in certain dollar amounts to account for inflation over the 21 years since the enactment of such Act, to provide for future adjustments of such amounts on a regular basis, and for other purposes.
(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.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1772)
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by Voice Vote.
Reported by the Committee on Financial Services. H. Rept. 110-917.
Reported by the Committee on Financial Services. H. Rept. 110-917.
Placed on the Union Calendar, Calendar No. 592.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line