H.R. 2974, The Innocent Check Depositor Protection Act

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 2974 would protect innocent parties from certain fees imposed by depository institutions for dishonored checks.

Detailed Summary

Innocent Check Depositor Protection Act - Amends the Expedited Funds Availability Act to prohibit a receiving depository institution from imposing check dishonorment fees upon a depositor if the check is drawn on an account at an originating institution which subsequently dishonors it for lack of sufficient funds.

States that this Act shall not be construed as affecting any intervening depository institution or the costs of services it provides.

Status of the Legislation

Latest Major Action: 7/10/2007: Referred to House committee. Status: Referred to the House Committee on Financial Services.

Points in Favor

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Points Against

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