Financial Institution Customer Protection Act of 2014
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Nov 20, 2014)
Financial Institution Customer Protection Act of 2014 - Prohibits a federal banking agency from suggesting, requesting, or ordering a depository institution to terminate a specific customer account, or otherwise restrict or discourage it from entering into or maintaining a banking relationship with a specific customer, unless: (1) the agency has a material reason to do so, and (2) the reason is not based solely on reputation risk.
Prescribes requirements for notice from the federal banking agency to the depository institution about such a customer account restriction or termination; but states that notice to the customer is not required.
Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to revise requirements for summoning witnesses and requiring production of books or other records the Attorney General deems relevant or material to a civil investigation in contemplation of a civil proceeding which may result in civil penalties for specified violations.
What just happenedNov 20, 2014
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseNov 20, 2014
- Nov 20, 2014IntroReferralH11100
Referred to the House Committee on Financial Services.
- Nov 20, 2014IntroReferralIntro-H
Introduced in House
- Nov 20, 2014IntroReferral1000
Introduced in House