HR 3864 · 96th Congress · Finance and Financial Sector

Consumer Checking Account Equity Act of 1979

Introduced 1979-05-01· Sponsored by Rep. St Germain, Fernand J. [D-RI-1]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Banking, Finance and Urban Affairs.(1979-05-01)

Plain Language Summary

[AI summary unavailable — showing source text] Consumer Checking Account Equity Act of 1979 - Amends the Federal Reserve Act to repeal the prohibition on the payment of interest on demand deposits. Allows federally insured savings and loan associations regulated by the Federal Deposit Insurance Corporation and the Federal Home Loan Bank Board or the Federal Savings and Loan Insurance Corporation and insured credit unions regulated by the National Credit Union Board to receive demand deposits.…

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

Cosponsors (18)

15 Democrats3 Republicans
Del. Fauntroy, Walter E. [D-DC-At Large]
Rep. McKinney, Stewart B. [R-CT-4]
Rep. Lowry, Mike [D-WA-7]
Rep. Traxler, Bob [D-MI-8]
Rep. Heftel, Cecil [D-HI-1]
Rep. Kildee, Dale E. [D-MI-7]
Rep. Yatron, Gus [D-PA-6]
Rep. Weaver, James H. [D-OR-4]
Rep. Matsui, Robert T. [D-CA-5]
Rep. Dixon, Julian C. [R-CA-32]
Rep. Long, Clarence D. [D-MD-2]
Rep. Ambro, Jerome A. [D-NY-3]
Rep. Fazio, Vic [D-CA-3]
Del. Evans, Melvin H. [R-VI-At Large]
Rep. Akaka, Daniel K. [D-HI-2]
Rep. Brown, Clarence, Jr. [R-OH-7]
Rep. Roybal, Edward R. [D-CA-25]
Rep. Gaydos, Joseph M. [D-PA-20]