3.0.0 189 2022-11-01T13:49:29Z 2022-11-01T13:49:29Z House HR 2019-01-03 116 [Congressional Record Volume 165, Number 1 (Thursday, January 3, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. LUETKEMEYER:H.R. 189.Congress has the power to enact this legislation pursuantto the following:The constitutional authority on which this bill rests isthe explicit power of Congress to regulate commerce in andamong the states, as enumerate in Article 1, Section 8,Clause 3, the Commerce Clause, of the United StatesConstitution, and Article 1, Section 8, Clause 1, whichgrants Congress the ability to make laws necessary to carryout that power. Additionally, Article I, Section 7, Clause 2of the Constitution allows for every bill passed by the Houseof Representatives and the Senate and signed by the Presidentto be made law; and therefore it implicitly allows Congressto amend any bill that has been passed by both chambers andsigned into law by the President.[Page H216]]]> hsba00 Financial Services Committee House Standing Referred to 2019-01-03T16:21:00Z Financial Institution Customer Protection Act of 2019 116 3003 S 2019-12-10 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS The Heroes Act 116 6800 HR 2020-07-23 Committee on Small Business and Entrepreneurship. Hearings held. Related bill CRS 2019-01-03 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-01-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-01-03 Introduced in House IntroReferral 1000 9 Library of Congress L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 N Finance and Financial Sector Administrative law and regulatory procedures Asia Bank accounts, deposits, capital Banking and financial institutions regulation Business records Congressional oversight Consumer affairs Department of the Treasury Evidence and witnesses Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Government information and archives Iran Judicial procedure and administration Middle East National Credit Union Administration North Korea Syria Terrorism Finance and Financial Sector 00 2019-01-03 Introduced in House 2019-01-17T20:10:36Z Financial Institution Customer Protection Act of 2019

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 valid reason for doing so, and (2) that reason is not based solely on reputation risk.

Valid reasons for terminating an account include threats to national security and involvement in terrorist financing, including state sponsorship of terrorism.

A federal banking agency requesting a termination must provide the depository institution with notification and justification.

]]> Financial Institution Customer Protection Act of 2019 Display Title Financial Institution Customer Protection Act of 2019 Official Title as Introduced To provide requirements for the appropriate Federal banking agencies when requesting or ordering a depository institution to terminate a specific customer account, and for other purposes. Introduced in House IH Short Title(s) as Introduced Financial Institution Customer Protection Act of 2019 Introduced in House IH Introduced in House 2019-01-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr189ih/xml/BILLS-116hr189ih.xml 2019-01-03 Referred to the House Committee on Financial Services. 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.