[Congressional Record Volume 161, Number 52 (Monday, April 13, 2015)]
[House]
[Pages H2124-H2125]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
EXPEDITED FUNDS AVAILABILITY ACT AMENDMENT
Mr. NEUGEBAUER. Mr. Speaker, I move to suspend the rules and pass the
bill (H.R. 1367) to amend the Expedited Funds Availability Act to
clarify the application of that Act to American Samoa and the Northern
Mariana Islands.
The Clerk read the title of the bill.
The text of the bill is as follows:
H.R. 1367
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. APPLICATION OF THE EXPEDITED FUNDS AVAILABILITY
ACT.
(a) In General.--The Expedited Funds Availability Act (12
U.S.C. 4001 et seq.) is amended--
[[Page H2125]]
(1) in section 602(20) (12 U.S.C. 4001(20)) by inserting
``, located in the United States,'' after ``ATM'';
(2) in section 602(21) (12 U.S.C. 4001(21)) by inserting
``American Samoa, the Commonwealth of the Northern Mariana
Islands,'' after ``Puerto Rico,'';
(3) in section 602(23) (12 U.S.C. 4001(23)) by inserting
``American Samoa, the Commonwealth of the Northern Mariana
Islands,'' after ``Puerto Rico,''; and
(4) in section 603(d)(2)(A) (12 U.S.C. 4002(d)(2)(A)), by
inserting ``American Samoa, the Commonwealth of the Northern
Mariana Islands,'' after ``Puerto Rico,''.
(b) Effective Date.--This Act shall take effect on January
1, 2016.
The SPEAKER pro tempore. Pursuant to the rule, the gentleman from
Texas (Mr. Neugebauer) and the gentleman from Massachusetts (Mr.
Capuano) each will control 20 minutes.
The Chair recognizes the gentleman from Texas.
general leave
Mr. NEUGEBAUER. Mr. Speaker, I ask unanimous consent that all Members
may have 5 legislative days in which to revise and extend their remarks
and add extraneous materials on the bill.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Texas?
There was no objection.
Mr. NEUGEBAUER. Mr. Speaker, I yield myself such time as I may
consume.
Mr. Speaker, this is a noncontroversial, bipartisan bill. It was
carried by the Democratic Representative from American Samoa last
Congress.
This is a proconsumer measure that would improve the check clearing
wait times in American Samoa and the Northern Mariana Islands. Other
noncontiguous U.S. States and territories are already subject to this
act. This bill provides parity and helps improve financial services in
American Samoa and the Northern Mariana Islands.
This bill passed the House on suspension last Congress.
Mr. Speaker, I reserve the balance of my time.
Mr. CAPUANO. Mr. Speaker, I yield myself such time as I may consume.
I rise in support of this bill as well. Again, it is a simple,
straightforward bill that simply says that American Samoa and the
Northern Mariana Islands are part of America, as is every other part of
America. They should be treated the same.
This bill corrects a law that currently does not allow them to be
treated the same in financial services matters. It should be passed
immediately.
I yield back the balance of my time.
Mr. NEUGEBAUER. Mr. Speaker, I yield myself such time as I may
consume.
Mr. Speaker, at this time, I will read a statement that Mrs.
Radewagen of American Samoa submitted to me in reference to this. She
is the primary sponsor.
Mr. Speaker, I rise today in support of H.R. 1367, to amend
the Expedited Funds Availability Act to clarify the
application of that act to American Samoa and the Northern
Mariana Islands.
I would first like to thank Chairman Hensarling and Ranking
Member Waters, as well as the House Financial Services
Committee staff, who worked so hard to get this bill to the
floor. I appreciate their dedication, as do the people of
American Samoa and the CNMI.
As you know, the isolation of American Samoa, both
geographically and economically, lends itself to difficulties
in financial transactions that take place between American
Samoa and those off island.
Many times, our citizens and businesses must wait an
exorbitant amount of time before they can receive off-island
funds that have been sent to them. These delays often cause
hardships that are both unnecessary and unfounded.
H.R. 1367 will eliminate the excessive delays that the
people of American Samoa must currently deal with in order to
receive funds sent to them from off-island.
Again, I would like to thank Chairman Hensarling and
Ranking Member Waters for their consideration of this measure
that will greatly improve the lives of the people of American
Samoa.
Mr. Speaker, I ask all Members of the House of
Representatives to vote in favor of this bill that will bring
American Samoa and the CNMI into the fold financially in
regards to off-island transactions.
Mr. Speaker, I urge passage of this bill.
I yield back the balance of my time.
Mr. SABLAN. Mr. Speaker, the people of the Northern Mariana Islands
deserve the same protections of federal law as other Americans. Making
sure my people get equal treatment is one of the reasons I came to
Congress and equivalent treatment brings me to the floor today in
support of H.R. 1367.
As we have heard, H.R. 1367 extends the protections of the Expedited
Funds Availability Act to the people of the Northern Marianas and
American Samoa. This would mean that account holders in the Northern
Marianas and American Samoa would have timely access to their money
when they deposit a check in their bank.
The same banking rules would apply in the Northern Marianas and
American Samoa as apply in Alaska, Hawai'i, Puerto Rico, and the U.S.
Virgin Islands--the areas of our nation not directly connected to the
contiguous forty-eight states.
It may be that in 1987, when the Expedited Funds Availability Act
was first adopted, the Northern Marianas and American Samoa seemed
remote from the rest of America. Back then, paper checks may have been
bundled up and sent through the mail. So delays were inevitable.
But today banking is handled electronically. With a smart phone many
banking customers can take a picture of a check and deposit it in their
account without even going to the bank.
I have checked with the major banks in my district; none has any
problem with having this federal law apply to their operations--because
they all do business electronically and make deposits quickly
available.
So, clearly, it is time to update federal banking laws with respect
to the Northern Marianas and American Samoa and join the 21st century.
I want to thank my friend, Congresswoman Aumua Amata Coleman
Radewagen, for introducing H.R. 1367. And I want to congratulate her
for getting her bill moved through the Financial Services Committee and
brought to the floor quickly and early in the 114th Congress.
This same language has passed the House before, but died in the
Senate. But the quick start that Congresswoman Radewagen has given her
bill will allow the Senate more time--and, we hope, enough time--to
make this simple correction to the way federal law applies in two of
our nation's insular areas.
I would also like to thank Chairman Jeb Hensarling, Ranking Member
Maxine Waters, and all the members of the Financial Services Committee
for recognizing that creating a uniform application of federal banking
law--at least with respect to how quickly depositors have access to
their funds--is an area of bipartisan consensus.
I ask all Members of the House to agree and vote today in favor of
H.R. 1367.
Mrs. RADEWAGEN. Mr. Speaker, I rise today in support of H.R. 1367, to
amend the Expedited Funds Availability Act to clarify the application
of that Act to American Samoa and the Northern Mariana Islands.
I would first like to thank Chairman Hensarling, and Ranking Member
Waters as well as the House Financial Services Committee staff who
worked so hard to get this bill to the floor. I appreciate their
dedication as do the people of American Samoa and the CNMI.
As you know, the isolation of American Samoa, both geographically and
economically, lends itself to difficulties in financial transactions
that take place between American Samoa and those off island.
Many times, our citizens and businesses must wait an exorbitant
amount of time before they can receive off-island funds that have been
sent to them. These delays often cause hardships that are both
unnecessary and unfounded.
H.R. 1367, will eliminate the excessive delays that the people of
American Samoa must currently deal with in order to receive funds sent
to them from off-island.
Again, I would like to thank Chairman Hensarling and Ranking Member
Waters for their consideration of this measure that will greatly
improve the lives of the people of American Samoa.
Mr. Speaker, I ask all Members of the U.S. House of Representatives
to vote in favor of this bill that will bring American Samoa and the
CNMI into the fold financially in regards to off island transactions.
The SPEAKER pro tempore. The question is on the motion offered by the
gentleman from Texas (Mr. Neugebauer) that the House suspend the rules
and pass the bill, H.R. 1367.
The question was taken; and (two-thirds being in the affirmative) the
rules were suspended and the bill was passed.
A motion to reconsider was laid on the table.
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