HR 2706 · 115th Congress · Finance and Financial Sector
Financial Institution Customer Protection Act of 2017
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2017-12-12)
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Plain Language Summary
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Financial Institution Customer Protection Act of 2017 This bill specifies that a federal banking agency may not request or order a depository institution to terminate a customer account unless: (1) the agency has a material reason for doing so, and (2) that reason is not based solely on reputation risk. In addition, the bill amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to: (1) apply civil penalties to specified violations by a financial institution against an unaffiliated third person, and (2) modify provisions related to administrative subpoenas.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 2706, Financial Institution Customer Protection Act of 2017
Nov 2, 2017As ordered reported by the House Committee on Financial Services on October 12, 2017
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (19)
19 Republicans