To amend the Expedited Funds Availability Act to clarify the application of that Act to American Samoa and the Northern Mariana Islands.

Bill: 113-hr-1679
Sponsor: full_name: Del. Faleomavaega, Eni F. H. [D-AS-At Large]
Introduced: 2013-04-23
Policy area: Finance and Financial Sector
Subjects: American Samoa

Bank accounts, deposits, capital

Banking and financial institutions regulation

U.S. territories and protectorates
Latest action: action_date: 2014-06-10
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2013-04-23
action_desc: Introduced in House
text: <p>Amends the Expedited Funds Availability Act to apply it to American Samoa.</p> <p>Extends by two business days, for American Samoa, any time periods established for large or redeposited check, repeated overdraft, reasonable cause, or other emergency exceptions to the 30-day funds availability requirements for deposits in an depository institution account by a new depositor. Applies this two-day extension to any deposit in an account at a depository institution located in American Samoa by a check drawn on an originating depository institution which is not located in the same state as the receiving depository institution.</p>

action_date: 2014-06-09
action_desc: Passed House amended
text: <p> Amends the Expedited Funds Availability Act to apply it to American Samoa and the Commonwealth of the Northern Mariana Islands.</p> <p>Extends by two business days, for American Samoa and the Commonwealth, any time periods established for large or redeposited check, repeated overdraft, reasonable cause, or other emergency exceptions to the 30-day funds availability requirements for deposits in an depository institution account by a new depositor.</p> <p>Extends by one business day any deposit which is both deposited: (1) in an account at a depository institution located in American Samoa or the Commonwealth, and (2) by a check drawn on an originating depository institution which is not located in the same commonwealth or territory as the receiving depository institution.

tv_txt: I 113th CONGRESS 1st Session H. R. 1679 IN THE HOUSE OF REPRESENTATIVES April 23, 2013 Mr. Faleomavaega introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Expedited Funds Availability Act to clarify the application of that Act to American Samoa.

1. Application of the Expedited Funds Availability Act The Expedited Funds Availability Act ( 12 U.S.C. 4001 et seq. ) is amended— (1) in section 602(20) ( 12 U.S.C. 4001(20) ) by inserting , located in the United States, after ATM ; (2) in section 602(21) ( 12 U.S.C. 4001(21) ) by inserting American Samoa, after Puerto Rico, ; (3) in section 602(23) ( 12 U.S.C. 4001(23) ) by inserting American Samoa, after Puerto Rico, ; and (4) by adding at the end of section 603(d) ( 12 U.S.C. 4002(d) ) the following new paragraph: (3) Extension for certain deposits in American Samoa Notwithstanding any other provision of law, any time period established under subsection (b), (c), or (e) shall be extended by 2 business days in the case of any deposit which is both— (A) deposited in an account at a depository institution which is located in American Samoa; and (B) deposited by a check drawn on an originating depository institution which is not located in the same State as the receiving depository institution. .

tv_txt: I 113th CONGRESS 2d Session H. R. 1679 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Expedited Funds Availability Act to clarify the application of that Act to American Samoa and the Northern Mariana Islands.

1. Application of the Expedited Funds Availability Act (a) In general The Expedited Funds Availability Act ( 12 U.S.C. 4001 et seq. ) is amended— (1) in section 602(20) ( 12 U.S.C. 4001(20) ) by inserting , located in the United States, after ATM ; (2) in section 602(21) ( 12 U.S.C. 4001(21) ) by inserting American Samoa, the Commonwealth of the Northern Mariana Islands, after Puerto Rico, ; (3) in section 602(23) ( 12 U.S.C. 4001(23) ) by inserting American Samoa, the Commonwealth of the Northern Mariana Islands, after Puerto Rico, ; and (4) in section 603(d)(2)(A) ( 12 U.S.C. 4002(d)(2)(A) ), by inserting American Samoa, the Commonwealth of the Northern Mariana Islands, after Puerto Rico, . (b) Effective date This Act shall take effect on January 1, 2016.

Passed the House of Representatives June 9, 2014. Karen L. Haas, Clerk.

tv_txt: IIB 113th CONGRESS 2d Session H. R. 1679 IN THE SENATE OF THE UNITED STATES June 10, 2014 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend the Expedited Funds Availability Act to clarify the application of that Act to American Samoa and the Northern Mariana Islands.

1. Application of the Expedited Funds Availability Act (a) In general The Expedited Funds Availability Act ( 12 U.S.C. 4001 et seq. ) is amended— (1) in section 602(20) ( 12 U.S.C. 4001(20) ) by inserting , located in the United States, after ATM ; (2) in section 602(21) ( 12 U.S.C. 4001(21) ) by inserting American Samoa, the Commonwealth of the Northern Mariana Islands, after Puerto Rico, ; (3) in section 602(23) ( 12 U.S.C. 4001(23) ) by inserting American Samoa, the Commonwealth of the Northern Mariana Islands, after Puerto Rico, ; and (4) in section 603(d)(2)(A) ( 12 U.S.C. 4002(d)(2)(A) ), by inserting American Samoa, the Commonwealth of the Northern Mariana Islands, after Puerto Rico, . (b) Effective date This Act shall take effect on January 1, 2016.

Passed the House of Representatives June 9, 2014. Karen L. Haas, Clerk