HR 12682 · 93th Congress · Interest rates

A bill to amend the Federal Reserve Act and the Federal Deposit Insurance Act to provide a minimum rate of interest which banks must pay on Christmas club accounts.

Introduced 1974-02-06· Sponsored by Rep. Long, Clarence D. [D-MD-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Banking and Currency.(1974-02-06)

Plain Language Summary

[AI summary unavailable — showing source text] Provides, under the Federal Reserve Act and the Federal Deposit Insurance Act, a minimum rate of interest which banks must pay on Christmas club accounts equal to the rate paid on its savings deposits. (Amends 12 U.S.C. 371b, 1828(g))…

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