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H.R. 1367 (114th): To amend the Expedited Funds Availability Act to clarify the application of that Act to American Samoa and the Northern Mariana Islands.

We don’t have a summary available yet.

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Apr 13, 2015.

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

(Sec. 1) Amends the Expedited Funds Availability Act to apply it to American Samoa and the Commonwealth of the Northern Mariana Islands.

Extends by two business days, for American Samoa and the Commonwealth, any time periods established for large or redeposited check, repeated overdraft, reasonable cause, or other emergency exceptions to the 30-day funds availability requirements for deposits in an depository institution account by a new depositor.

Extends by one business day any deposit which is both deposited: (1) in an account at a depository institution located in American Samoa or the Commonwealth, and (2) by a check drawn on an originating depository institution which is not located in the same commonwealth or territory as the receiving depository institution.