Immediate Funds Availability Act of 2020 This bill temporarily requires depository institutions located in a state with a public health emergency to immediately make available for withdrawal certain deposited funds. Specifically, the first $1,500 of a deposit must be made available in real time. This requirement expires three years after enactment.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Bank accounts, deposits, capitalBanking and financial institutions regulationEmergency medical services and trauma careFederal Reserve SystemState and local government operations
Immediate Funds Availability Act of 2020
USA116th CongressHR-6306| House
| Updated: 3/19/2020
Immediate Funds Availability Act of 2020 This bill temporarily requires depository institutions located in a state with a public health emergency to immediately make available for withdrawal certain deposited funds. Specifically, the first $1,500 of a deposit must be made available in real time. This requirement expires three years after enactment.
Bank accounts, deposits, capitalBanking and financial institutions regulationEmergency medical services and trauma careFederal Reserve SystemState and local government operations