A bill to amend title 31, United States Code, to eliminate the fee imposed on financial organizations which receive payroll deductions from Federal employees, and for other purposes.
Payroll Deduction Facilitation Act - Eliminates the fee imposed on financial organizations which receive payroll deductions from Federal employees.
Amends the Right to Financial Privacy Act of 1978 to make an exception in any case in which a Government authority which has a disbursing function needs to know, for the sole purpose of properly administering such disbursing function: (1) the name and address of any individual customer with access to an account which was credited, or which should have been credited, with any deposit disbursed by such authority; or (2) the amount so credited.
Permits a transfer between Government authorities of any information thus obtained, as long as such transfer is made for, and such information will be used for, the sole purpose of properly administering the law which authorizes the payment of funds involved.
Received in the Senate, read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 740.
Introduced in Senate
Read twice and referred to the Committee on Banking.
Committee on Banking requested executive comment from Federal Reserve System, Federal Deposit Insurance Corporation, Federal Home Loan Bank Board, Comptroller of the Currency, Treasury Department, National Credit Union Administration.
Committee on Banking received executive comment from Federal Home Loan Bank Board.
Committee on Banking received executive comment from Treasury Department.
Committee on Banking received executive comment from Federal Deposit Insurance Corporation.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line