H.R. 4146, The Hurricanes Rita and Wilma Financial Services Relief Act of 2005

• This item is from the 109th Congress (2005-2006) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

H.R. 4146 would provide certain forms of relief to financial institutions whose deposits are largely derived from residents and businesses located in areas designated as disaster areas after Hurricanes Rita and Wilma. It would direct the Federal Reserve to waive or rebate transaction fees for wire transfer services that otherwise would be due from eligible institutions. The waiver would be in effect for at least 180 days after enactment; it could be extended for an additional 30 days by an action of the Board of Governors of the Federal Reserve System. Other provisions in the bill would authorize the Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) to temporarily use different criteria when evaluating the financial condition of institutions in those disaster areas if doing so would facilitate their recovery and be consistent with safe and sound practices.