A bill to impose a moratorium on the receipt of deposits or the making of loans by financial institutions at places of business, other than those of financial institutions through the means of electronic methods of fund transfers.
Electronic Funds Transfer Moratorium Act - Defines the terms used in this Act. Prohibits and makes unenforceable any contract entered into after December 19, 1974 by any financial institution which involves electronic methods of fund transfers at places of business other than the premises of the financial institution. Provides that this Act shall expire December 1, 1976, or at such time as the Congress shall determine while it considers the report of the National Commission on Electronic Fund Transfers established by Public Law 93-495.
Referred to House Committee on Banking and Currency.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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