S 2348 · 118th Congress · Finance and Financial Sector

Payments Modernization Act of 2023

Introduced 2023-07-18· Sponsored by Sen. Van Hollen, Chris [D-MD]· Senate

Bill Progress

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Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2023-07-18)

Plain Language Summary

[AI summary unavailable — showing source text] Payments Modernization Act of 2023 This bill requires depository institutions to make deposits available for withdrawal in real time. Under current law, deposits must be made available according to specified schedules based on the type of deposit.  The Government Accountability Office must publish a study on the impact payment delays have on disadvantaged communities.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Sen. Warren, Elizabeth [D-MA]MA