[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 749 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 749

 To amend the Federal Credit Union Act to provide expanded access for 
 persons in the field of membership of a Federal credit union to money 
           order, check cashing, and money transfer services.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 10, 2005

 Mr. Gerlach (for himself, Mr. Sherman, Mr. Paul, Mr. LaTourette, Mr. 
Kanjorski, and Mr. Gutierrez) introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Federal Credit Union Act to provide expanded access for 
 persons in the field of membership of a Federal credit union to money 
           order, check cashing, and money transfer services.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Expanded Access to Financial 
Services Act of 2005''.

SEC. 2. CHECK CASHING AND MONEY TRANSFER SERVICES OFFERED WITHIN THE 
              FIELD OF MEMBERSHIP.

    Paragraph (12) of section 107 of the Federal Credit Union Act (12 
U.S.C. 1757(12)) is amended to read as follows:
            ``(12) in accordance with regulations prescribed by the 
        Board--
                    ``(A) to sell, to persons in the field of 
                membership, negotiable checks (including travelers 
                checks), money orders, and other similar money transfer 
                instruments (including electronic fund transfers); and
                    ``(B) to cash checks and money orders and receive 
                electronic fund transfers for persons in the field of 
                membership for a fee;''.
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