Legis Daily

Financial Institution Customer Protection Act of 2017

USA115th CongressHR-2706| House 
| Updated: 12/12/2017
Blaine Luetkemeyer

Blaine Luetkemeyer

Republican Representative

Missouri

Cosponsors (19)
Thomas MacArthur (Republican)Robert Pittenger (Republican)Frank D. Lucas (Republican)Randy Hultgren (Republican)Steve Stivers (Republican)Claudia Tenney (Republican)John J. Faso (Republican)Pete Sessions (Republican)Keith J. Rothfus (Republican)Barry Loudermilk (Republican)Rodney Davis (Republican)Roger Williams (Republican)Trey Hollingsworth (Republican)Sam Graves (Republican)Dennis A. Ross (Republican)Tom Emmer (Republican)Robert E. Latta (Republican)Scott R. Tipton (Republican)Ted Budd (Republican)

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Financial Institution Customer Protection Act of 2017 (Sec. 2) 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.

Bill Text Versions

View Text
4 versions available

Suggested Questions

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Timeline
May 25, 2017
Introduced in House
May 25, 2017
Referred to the House Committee on Financial Services.
Oct 11, 2017
Committee Consideration and Mark-up Session Held.
Oct 12, 2017
Ordered to be Reported (Amended) by the Yeas and Nays: 59 - 1.
Oct 12, 2017
Committee Consideration and Mark-up Session Held.
Nov 16, 2017
Placed on the Union Calendar, Calendar No. 306.
Nov 16, 2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-414.
Dec 11, 2017
Mr. Luetkemeyer moved to suspend the rules and pass the bill, as amended.
Dec 11, 2017
Considered under suspension of the rules. (consideration: CR H9770-9773)
Dec 11, 2017
DEBATE - The House proceeded with forty minutes of debate on H.R. 2706.
Dec 11, 2017
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Dec 11, 2017
Considered as unfinished business. (consideration: CR H9777-9778)
Dec 11, 2017
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 2 (Roll no. 672). (text: CR H9770-9771)
View Vote
Dec 11, 2017
Motion to reconsider laid on the table Agreed to without objection.
Dec 12, 2017
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • May 25, 2017
    Introduced in House
  • May 25, 2017
    Referred to the House Committee on Financial Services.
  • October 11, 2017
    Committee Consideration and Mark-up Session Held.
  • October 12, 2017
    Ordered to be Reported (Amended) by the Yeas and Nays: 59 - 1.
  • October 12, 2017
    Committee Consideration and Mark-up Session Held.
  • November 16, 2017
    Placed on the Union Calendar, Calendar No. 306.
  • November 16, 2017
    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-414.
  • December 11, 2017
    Mr. Luetkemeyer moved to suspend the rules and pass the bill, as amended.
  • December 11, 2017
    Considered under suspension of the rules. (consideration: CR H9770-9773)
  • December 11, 2017
    DEBATE - The House proceeded with forty minutes of debate on H.R. 2706.
  • December 11, 2017
    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  • December 11, 2017
    Considered as unfinished business. (consideration: CR H9777-9778)
  • December 11, 2017
    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 2 (Roll no. 672). (text: CR H9770-9771)
    View Vote
  • December 11, 2017
    Motion to reconsider laid on the table Agreed to without objection.
  • December 12, 2017
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Related Bills

  • HR 115-3280: Financial Services and General Government Appropriations Act, 2018
  • HR 115-2133: To provide regulatory relief to community financial institutions, and for other purposes.
  • HR 115-6147: Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Administration, and Transportation, Housing and Urban Development Appropriations Act, 2019
  • HR 115-10: Financial CHOICE Act of 2017
  • HR 115-3354: Make America Secure and Prosperous Appropriations Act, 2018
Administrative law and regulatory proceduresAsiaBank accounts, deposits, capitalBanking and financial institutions regulationBusiness recordsCongressional oversightConsumer affairsDepartment of the TreasuryEvidence and witnessesFederal Deposit Insurance Corporation (FDIC)Federal Reserve SystemGovernment information and archivesIranJudicial procedure and administrationMiddle EastNational Credit Union AdministrationNorth KoreaSyriaTerrorism

Financial Institution Customer Protection Act of 2017

USA115th CongressHR-2706| House 
| Updated: 12/12/2017
Financial Institution Customer Protection Act of 2017 (Sec. 2) 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.

Bill Text Versions

View Text
4 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 25, 2017
Introduced in House
May 25, 2017
Referred to the House Committee on Financial Services.
Oct 11, 2017
Committee Consideration and Mark-up Session Held.
Oct 12, 2017
Ordered to be Reported (Amended) by the Yeas and Nays: 59 - 1.
Oct 12, 2017
Committee Consideration and Mark-up Session Held.
Nov 16, 2017
Placed on the Union Calendar, Calendar No. 306.
Nov 16, 2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-414.
Dec 11, 2017
Mr. Luetkemeyer moved to suspend the rules and pass the bill, as amended.
Dec 11, 2017
Considered under suspension of the rules. (consideration: CR H9770-9773)
Dec 11, 2017
DEBATE - The House proceeded with forty minutes of debate on H.R. 2706.
Dec 11, 2017
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Dec 11, 2017
Considered as unfinished business. (consideration: CR H9777-9778)
Dec 11, 2017
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 2 (Roll no. 672). (text: CR H9770-9771)
View Vote
Dec 11, 2017
Motion to reconsider laid on the table Agreed to without objection.
Dec 12, 2017
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • May 25, 2017
    Introduced in House
  • May 25, 2017
    Referred to the House Committee on Financial Services.
  • October 11, 2017
    Committee Consideration and Mark-up Session Held.
  • October 12, 2017
    Ordered to be Reported (Amended) by the Yeas and Nays: 59 - 1.
  • October 12, 2017
    Committee Consideration and Mark-up Session Held.
  • November 16, 2017
    Placed on the Union Calendar, Calendar No. 306.
  • November 16, 2017
    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-414.
  • December 11, 2017
    Mr. Luetkemeyer moved to suspend the rules and pass the bill, as amended.
  • December 11, 2017
    Considered under suspension of the rules. (consideration: CR H9770-9773)
  • December 11, 2017
    DEBATE - The House proceeded with forty minutes of debate on H.R. 2706.
  • December 11, 2017
    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  • December 11, 2017
    Considered as unfinished business. (consideration: CR H9777-9778)
  • December 11, 2017
    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 2 (Roll no. 672). (text: CR H9770-9771)
    View Vote
  • December 11, 2017
    Motion to reconsider laid on the table Agreed to without objection.
  • December 12, 2017
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Blaine Luetkemeyer

Blaine Luetkemeyer

Republican Representative

Missouri

Cosponsors (19)
Thomas MacArthur (Republican)Robert Pittenger (Republican)Frank D. Lucas (Republican)Randy Hultgren (Republican)Steve Stivers (Republican)Claudia Tenney (Republican)John J. Faso (Republican)Pete Sessions (Republican)Keith J. Rothfus (Republican)Barry Loudermilk (Republican)Rodney Davis (Republican)Roger Williams (Republican)Trey Hollingsworth (Republican)Sam Graves (Republican)Dennis A. Ross (Republican)Tom Emmer (Republican)Robert E. Latta (Republican)Scott R. Tipton (Republican)Ted Budd (Republican)

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 115-3280: Financial Services and General Government Appropriations Act, 2018
  • HR 115-2133: To provide regulatory relief to community financial institutions, and for other purposes.
  • HR 115-6147: Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Administration, and Transportation, Housing and Urban Development Appropriations Act, 2019
  • HR 115-10: Financial CHOICE Act of 2017
  • HR 115-3354: Make America Secure and Prosperous Appropriations Act, 2018
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresAsiaBank accounts, deposits, capitalBanking and financial institutions regulationBusiness recordsCongressional oversightConsumer affairsDepartment of the TreasuryEvidence and witnessesFederal Deposit Insurance Corporation (FDIC)Federal Reserve SystemGovernment information and archivesIranJudicial procedure and administrationMiddle EastNational Credit Union AdministrationNorth KoreaSyriaTerrorism