HR 3993 · 104th Congress · Finance and Financial Sector
Small Business Banking Act of 1996
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Financial Institutions and Consumer Credit.(1996-08-23)
Plain Language Summary
[AI summary unavailable — showing source text]
Small Business Banking Act of 1996 - Amends the Federal Deposit Insurance Act (FDIA) to authorize any depository institution to permit an owner to make withdrawals by negotiable or transferable instrument from any interest-bearing or dividend bearing account in order to make payments to third parties (currently such withdrawals are permissible only for specified deposits). Amends the Federal Reserve Act, the Home Owners' Loan Act, and the FDIA to repeal the proscription against the payment of interest on demand deposits.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (5)
2 Democrats3 Republicans