H.R. 2706
Referred to CommitteeFinancial Institution Customer Protection Act of 2017
Latest Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
12/12/2017 • Senate
Summary
Financial Institution Customer Protection Act of 2017
(Sec. 2) This bill specifies that a federal banking agency may not request or order a depository institution to terminate a customer account unless: (1) the agency has a valid reason for doing so, and (2) that reason is not based solely on reputation risk.
Valid reasons for terminating an account include threats to national security and involvement in terrorist financing, including state sponsorship of terrorism.
A federal banking agency requesting a termination must provide the depository institution with notification and justification.
Passed House amended • 12/11/2017
Topics & Subjects
CBO Cost Estimates (1)
Related Federal Spending
Sponsor & Cosponsors (20)
Party Breakdown
Sponsor
Cosponsors (19)
Bill Journey
Originated in the House
Introduced
May 25, 2017
Committee Review
October 11, 2017
Committee Consideration and Mark-up Session Held.
Floor Debate
December 11, 2017
Passed Chamber
December 11, 2017
Other Chamber
President
Enacted into Law
Text Versions (4)
Committee Reports (1)
Related Bills (5)
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