American Savings Promotion Act

Bill: 113-hr-3374
Sponsor: Rep. Kilmer, Derek [D-WA-6]
Introduced: 2013-10-29 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Bank accounts, deposits, capital
Banking and financial institutions regulation
Consumer Financial Protection Bureau
Gambling
Marketing and advertising
Organized crime
Postal service

Summary:
action_date: 2013-10-29
text: 
American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a &quot;savings promotion raffle,&quot; in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such a drawing contest to regulations promulgated by the appropriate prudential regulator.

Excludes such a &quot;savings promotion raffle&quot; from the prohibition against a covered financial institution's dealing in &quot;lottery&quot; tickets.
 
Amends the federal criminal code to exempt savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises.

action_date: 2014-09-15
text: 
American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a &quot;savings promotion raffle,&quot; in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such a drawing contest to regulations promulgated by the appropriate prudential regulator.
 
 Excludes such a &quot;savings promotion raffle&quot; from the prohibition against a covered financial institution's dealing in &quot;lottery&quot; tickets.
 
Amends the federal criminal code to exempt: (1) savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises, and (2) any savings promoton raffle from the prohibition against illegal gambling businesses.

action_date: 2014-12-10
text: 

(This measure has not been amended since it was passed by the House on September 15, 2014. The summary of that version is repeated here.)

 
American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a &quot;savings promotion raffle,&quot; in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such drawing contest to regulations promulgated by the appropriate prudential regulator.
 
 Excludes such &quot;savings promotion raffle&quot; from the prohibition against a covered financial institution's dealing in &quot;lottery&quot; tickets.
 
Amends the federal criminal code to exempt: (1) savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises, and (2) any savings promoton raffle from the prohibition against illegal gambling businesses.

action_date: 2014-12-18
text: 

(This measure has not been amended since it was passed by the House on September 15, 2014. The summary of that version is repeated here.)

 
American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a &quot;savings promotion raffle,&quot; in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such drawing contest to regulations promulgated by the appropriate prudential regulator.
 
 Excludes such &quot;savings promotion raffle&quot; from the prohibition against a covered financial institution's dealing in &quot;lottery&quot; tickets.
 
Amends the federal criminal code to exempt: (1) savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises, and (2) any savings promoton raffle from the prohibition against illegal gambling businesses.


Legislative actions:
action_date: 2014-12-18
text: Became Public Law No: 113-251.
action_date: 2014-12-18
text: Became Public Law No: 113-251.
action_date: 2014-12-18
text: Signed by President.
action_date: 2014-12-18
text: Signed by President.
action_date: 2014-12-12
text: Presented to President.
action_date: 2014-12-12
text: Presented to President.
action_date: 2014-12-11
text: Message on Senate action sent to the House.
action_date: 2014-12-10
text: Passed Senate without amendment by Unanimous Consent.
action_date: 2014-12-10
text: Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
action_date: 2014-12-10
text: Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S6580)
action_date: 2014-12-10
text: Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S6580)
action_date: 2014-09-16
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2014-09-15
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2014-09-15
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7504-7505)
action_date: 2014-09-15
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7504-7505)
action_date: 2014-09-15
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 3374.
action_date: 2014-09-15
text: Considered under suspension of the rules. (consideration: CR H7504-7506)
action_date: 2014-09-15
text: Mr. Fitzpatrick moved to suspend the rules and pass the bill, as amended.
action_date: 2014-07-15
text: Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
action_date: 2014-01-09
text: Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.
action_date: 2013-10-29
text: Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2013-10-29
text: Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2013-10-29
text: Introduced in House
action_date: 2013-10-29
text: Introduced in House

Enacted as: number: 113-251