To amend the Expedited Funds Availability Act to require that funds deposited be available for withdrawal in real-time, and for other purposes.
Payments Modernization Act of 2023
This bill requires depository institutions to make deposits available for withdrawal in real time. Under current law, deposits must be made available according to specified schedules based on the type of deposit.
The Government Accountability Office must publish a study on the impact payment delays have on disadvantaged communities.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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