I 
113TH CONGRESS 
2D SESSION 
H. R. 5758 
To provide requirements for the appropriate Federal banking agencies when 
requesting or ordering a depository institution to terminate a specific 
customer account, to provide for additional requirements related to sub-
poenas issued under the Financial Institutions Reform, Recovery, and 
Enforcement Act of 1989, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 20, 2014 
Mr. LUETKEMEYER (for himself, Mr. MURPHY of Florida, Mr. HASTINGS of 
Florida, and Mr. STIVERS) introduced the following bill; which was re-
ferred to the Committee on Financial Services 
A BILL 
To provide requirements for the appropriate Federal banking 
agencies when requesting or ordering a depository insti-
tution to terminate a specific customer account, to pro-
vide for additional requirements related to subpoenas 
issued under the Financial Institutions Reform, Recov-
ery, and Enforcement Act of 1989, and for other pur-
poses. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Financial Institution 
Customer Protection Act of 2014’’. 
SEC. 2. REQUIREMENTS FOR DEPOSIT ACCOUNT TERMI-
NATION REQUESTS AND ORDERS. 
(a) TERMINATION REQUESTS OR ORDERS MUST BE 
MATERIAL.— 
(1) IN
GENERAL.—An appropriate Federal 
banking agency may not suggest, request, or order 
a depository institution to terminate a specific cus-
tomer account or to otherwise restrict or discourage 
a depository institution from entering into or main-
taining a banking relationship with a specific cus-
tomer unless— 
(A) the agency has a material reason for 
such suggestion, request, or order; and 
(B) such reason is not based solely on rep-
utation risk. 
(2) 
TREATMENT
OF
NATIONAL
SECURITY 
THREATS.—If an appropriate Federal banking agen-
cy believes a specific customer poses a threat to na-
tional security, including any belief that such cus-
tomer is involved in terrorist financing, such belief 
shall satisfy the materiality requirement under para-
graph (1)(A). 
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(3) RULEMAKING.—Not later than the end of 
the 60-day period beginning on the date of the en-
actment of this Act, the appropriate Federal bank-
ing agencies shall, jointly, issue regulations defining 
the term ‘‘reputation risk’’ for purposes of this sec-
tion. 
(b) NOTICE REQUIREMENT.— 
(1) IN GENERAL.—If an appropriate Federal 
banking agency suggests, requests, or orders a de-
pository institution to terminate a specific customer 
account, the agency shall— 
(A) provide such suggestion, request, or 
order to the institution in writing; and 
(B) accompany such suggestion, request, 
or order with a justification for why such termi-
nation is needed, including any specific laws or 
regulations the agency believes are being vio-
lated by the customer, if any. 
(2) JUSTIFICATION
REQUIREMENT.—A jus-
tification described under paragraph (1)(B) may not 
be based solely on the reputation risk to the deposi-
tory institution. 
(c) CUSTOMER NOTICE.— 
(1) NOTICE NOT REQUIRED.—Nothing in this 
section shall be construed as requiring a depository 
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