A bill to amend the Federal Reserve Act to enhance the abilities of depository institutions to compete with the Federal Reserve System in the business of exchanging and clearing checks, drafts, and other evidences of transaction account funds and balances and changes in such balances and to promote the efficiency of the national networks for the transfer of funds and moneys.
Parity in Clearing Act - Amends the Federal Reserve Act to permit depository institutions (including national banks, federally-insured banks, credit unions, savings or mutual savings banks, and savings and loan associations) to receive for deposit and as deposits any evidences of transaction accounts from other such institutions or from any Federal Reserve bank without regard to any Federal or State law restricting the location or number of such depository institutions.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
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