To amend the Expedited Funds Availability Act to temporarily require that certain funds deposited with depository institutions by existing customers be available for withdrawal in real time in States with a public health emergency, and for other purposes.
Immediate Funds Availability Act of 2020
This bill temporarily requires depository institutions located in a state with a public health emergency to immediately make available for withdrawal certain deposited funds. Specifically, the first $1,500 of a deposit must be made available in real time. This requirement expires three years after enactment.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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