I 

111TH CONGRESS 

1ST SESSION H. R. 1488 

To establish a fair order of posting checks and deposits to prevent unjust 

enrichment of financial institutions from fees that accrue only by virtue 

of the order used by the institution for posting checks and deposits, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 12, 2009 

Mr. MEEK of Florida introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To establish a fair order of posting checks and deposits 

to prevent unjust enrichment of financial institutions 

from fees that accrue only by virtue of the order used 

by the institution for posting checks and deposits, and 

for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Consumer Checking 

5 Fairness Act’’. 


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1 SEC. 2. FAIR ORDER FOR POSTING CHECKS. 

2 (a) ORDER OF CHECKS POSTED.—Section 607 of the 

3 Expedited Funds Availability Act (12 U.S.C. 4006) is 

4 amended by adding at the end the following new sub5 section: 

6 ‘‘(f) NUMERICAL ORDER OF POSTING CHECKS.— 

7 ‘‘(1) IN GENERAL.—Subject to paragraph (2), 

8 in the process of posting checks presented for pay9 ment against a checking account used primarily for 

10 personal, family, or household purposes after the 

11 close of any business day, the checks shall be posted 

12 by a depository institution against the account in the 

13 numerical order of the checks, beginning with the 

14 lowest number. 

15 ‘‘(2) NOTICE AND CUSTOMER CONSENT FOR

16 DIFFERENT POSTING ORDER.—A depository institu17 tion may alter the order required under paragraph 

18 (1) for posting checks against a checking account 

19 used primarily for personal, family, or household 

20 purposes only if— 

21 ‘‘(A) specific notice of the alternate posting 

22 order is given by the depository institution to 

23 the prospective accountholder verbally and in 

24 writing before the account is opened (using a 

25 document that is separate from the account ap26 plication and any other document provided to 


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1 the prospective accountholder in the process of 

2 opening the account) which fully describes the 

3 posting process and explains in clear and easy4 to-understand language the possible con5 sequences to the accountholder of the alternate 

6 posting order; and 

7 ‘‘(B) the depository institution obtains 

8 from the accountholder, and retains in its 

9 records, a written acknowledgment of the re10 ceipt by the accountholder of the notice re11 quired under subparagraph (A) and the written 

12 consent of the accountholder for the use of the 

13 alternate posting order.’’. 

14 (b) CREDITS REQUIRED TO BE POSTED BEFORE

15 DEBITS.—Section 607 of the Expedited Funds Avail16 ability Act (12 U.S.C. 4006) is amended by inserting after 

17 subsection (f) (as added by subsection (a) of this section) 

18 the following new subsection: 

19 ‘‘(g) ORDER OF POSTING DEBITS AND CREDITS.— 

20 In the process of posting credits and debits against a 

21 checking account used primarily for personal, family, or 

22 household purposes after the close of any business day, 

23 all deposits shall be credited by a depository institution 

24 to the account before debiting any check drawn on the 

25 account and presented for payment.’’. 


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1 (c) REGULATIONS.—The Board of Governors of the 

2 Federal Reserve System shall— 

3 (1) prescribe such regulations as may be nec4 essary to implement the amendments made by sub5 section (a) and (b); and 

6 (2) publish such regulations in final form before 

7 the end of the 180-day period beginning on the date 

8 of the enactment of this Act. 

Æ 


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