[Congressional Record Volume 151, Number 57 (Wednesday, May 4, 2005)]
[House]
[Page H2979]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               AMENDMENTS

  Under clause 8 of rule XVIII, proposed amendments were submitted as 
follows:

                               H.R. 1185

                         Offered By: Mr. Weiner

       Amendment No. 1: Page 4, line 8, strike ``For purposes'' 
     and insert ``Except as provided in subparagraph (G), for 
     purposes''.
       Page 7, line 2, strike the closing quotation marks and the 
     2nd period.
       Page 7, after line 2, insert the following new 
     subparagraph:
       ``(G) No increase in insurance for depository institutions 
     that impose overdraft fees on innocent depositors.--If, in 
     the case of checks drawn on accounts at an originating 
     depository institution which are dishonored by the 
     originating depository institution due to the lack of 
     sufficient funds in such account to pay the check, a 
     receiving depository institution imposes fees on the 
     depositor, in connection with any such check, due to such 
     dishonorment, the standard maximum insurance amount 
     applicable under subparagraph (E) with respect to such 
     receiving depository institution shall be the amount 
     described in subparagraph (E)(i) without regard to the 
     effective date referred to in such subparagraph or any 
     adjustment under subparagraph (F).''.

                               H.R. 1185

                        Offered By: Mr.s Maloney

       Amendment No. 2: Page 4, line 8, strike ``For purposes'' 
     and insert ``Except as provided in subparagraph (G), for 
     purposes''.
       Page 4, line 15, insert ``with respect to any qualified 
     insured depository institution'' before the comma at the end.
       Page 7, line 2, strike the closing quotation marks and the 
     2nd period.
       Page 7, after line 2, insert the following new 
     subparagraph:
       ``(G) Conditions for increased deposit insurance 
     coverage.--
       ``(i) In general.--For purposes of subparagraph (E)(ii), an 
     insured depository institution shall be treated as a 
     qualified insured depository institution only if--

       ``(I) in the process of posting credits and debits against 
     a checking account used primarily for personal, family, or 
     household purposes after the close of any business day, the 
     depository institution credits all deposits to the account 
     before debiting any check drawn on the account and presented 
     to the depository institution for payment; and
       ``(II) the depository institution imposes no fee for paying 
     any check drawn on an account in spite of a lack of 
     sufficient funds in the account to pay such check or any 
     similar activity (commonly referred to as `bounce 
     protection') unless the accountholder has affirmatively 
     requested such service.

       ``(ii) Nonqualified insured depository institutions.--The 
     standard maximum insurance amount applicable to any insured 
     depository institution that is not a qualified insured 
     depository institution shall be the amount described in 
     subparagraph (E)(i) without regard to the effective date 
     referred to in such subparagraph or any adjustment under 
     subparagraph (F).''.