3.0.0 1660 2019-11-15T20:54:57Z 2019-11-15T20:54:57Z House H HR 2011-04-15 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. TSONGAS:H.R. 1660.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 3 (relating to the power toregulate foreign and interstate commerce) of the UnitedStates Constitution.[Page H2916]]]> hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2011-05-02T16:11:43Z Referred to 2011-04-15T13:12:00Z 2011-05-02 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2011-04-15 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-04-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-04-15 Introduced in House IntroReferral 1000 9 Library of Congress T000465 Rep. Tsongas, Niki [D-MA-5] Niki Tsongas D MA 5 N S001175 Rep. Speier, Jackie [D-CA-12] Jackie Speier D CA 12 2011-04-15 True W000808 Rep. Wilson, Frederica S. [D-FL-17] Frederica Wilson D FL S. 17 2011-04-15 True Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Consumer affairs Finance and Financial Sector 00 2011-04-15 Introduced in House 2011-06-16T19:00:28Z Faster Access and Shorter Transaction Time for Checks Act of 2011 or FASTT Checks Act - Amends the Expedited Funds Availability Act to provide for faster access to funds deposited in a receiving depository institution by doubling the amounts available for withdrawal at specified earliest times after deposit.

Revises the next business day availability requirement for cash deposited in a new depositor account. Eliminates the exception from this rule (thus requiring next business day availability) for large deposits in large depository banks if a check: (1) has been truncated and cleared in accordance with the Check Clearing for the 21st Century Act, and (2) is received for payment or deposit at a depositary bank with total assets of $10 billion or more.

Treats Saturday as a business day in the calculation of any period within which funds deposited in an account at a receiving depository institution are required to be available.

]]> Faster Access and Shorter Transaction Time for Checks Act of 2011 Short Titles as Introduced Faster Access and Shorter Transaction Time for Checks Act of 2011 Short Titles as Introduced FASTT Checks Act Display Title Faster Access and Shorter Transaction Time for Checks Act of 2011 Official Title as Introduced To amend the Expedited Funds Availability Act, to adjust dollar limits on check hold policies, and for other purposes. Introduced in House 2011-04-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1660ih/xml/BILLS-112hr1660ih.xml 2011-05-02 Referred to the Subcommittee on Financial Institutions and Consumer Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.