H.R. 5051 (103rd): Youth Depositor Protection Act

103rd Congress, 1993–1994. Text as of Sep 19, 1994 (Introduced).

Status & Summary | PDF | Source: GPO

HR 5051 IH

103d CONGRESS

2d Session

H. R. 5051

To amend the Federal Deposit Insurance Act to prohibit insured depository institutions from imposing any fees with respect to certain deposits of rolled coins by individuals who are not more than 16 years of age.

IN THE HOUSE OF REPRESENTATIVES

September 19, 1994

Mr. KLEIN introduced the following bill; which was referred to the Committee on Banking, Finance and Urban Affairs


A BILL

To amend the Federal Deposit Insurance Act to prohibit insured depository institutions from imposing any fees with respect to certain deposits of rolled coins by individuals who are not more than 16 years of age.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ‘Youth Depositor Protection Act’.

SEC. 2. PROHIBITION ON IMPOSITION OF FEES WITH RESPECT TO CERTAIN DEPOSITS OF ROLLED COINS.

    Section 18 of the Federal Deposit Insurance Act (12 U.S.C. 1828) is amended by adding at the end the following new subsection:

    ‘(q) PROHIBITION ON IMPOSITION OF FEES WITH RESPECT TO CERTAIN DEPOSITS OF ROLLED COINS- No insured depository institution may impose any fee in connection with the deposit of rolled United States coins into an account maintained at such institution by any individual who is not more than 16 years of age.’.