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Expedited Funds Availability/Check-Holds (CRS Report for Congress)

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Release Date Revised Sept. 30, 2010
Report Number RS22036
Report Type Report
Authors Pauline H. Smale, Analyst in Financial Economics
Source Agency Congressional Research Service
Older Revisions
  • Premium   Revised Oct. 10, 2008 (6 pages, $24.95) add
  • Premium   Sept. 6, 2007 (5 pages, $24.95) add
Summary:

Consumer advocates have continued to urge Congress to reduce check holds by amending theEFAA. The Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203) makesadjustments to the check-hold provisions of the EFAA. Additional changes would be made bytwo bills (H.R. 4936 and H.R. 1488) introduced in the 111th Congress. No further action has beentaken on either bill.This report will be updated as events and legislation warrant.Bills: H.R. 4936, H.R. 1488