Business Checking Freedom Act of 2003

Summary

Official

Business Checking Freedom Act of 2003 - Amends the Federal Reserve Act, the Home Owners' Loan Act, and the Federal Deposit Insurance Act to repeal the prohibition against the payment of interest on demand deposits. States that specified actions and benefits relating to an escrow account maintained at a depository institution in connection with a real estate transaction shall not be treated as the payment or receipt of interest for purposes of this Act and the other named Acts.

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Bill Progress

Committee is reviewing, marking up, or holding hearings on the bill

Introduced(2/13/03)

Committee

Passed House

Passed Senate

President

Law

Sponsor

Mr. TOOMEY

(R) PA – 15

Cosponsors (17)

PAUL

(R) TX

NEY

(R) OH

GONZALEZ

(D) TX

BIGGERT

(R) IL

KANJORSKI

(D) PA

HOOLEY

(D) OR

SOUDER

(R) IN

SHAYS

(R) CT

King

(R) IA

Sánchez

House (D) California

Topics

Social Programs

Business & Finance

Latest Action

Subcommittee Hearings Held.

Mar 5, 2003

View Bill on Congress.gov