House Bill 3939
116th Congress(2019-2020)
To require the Board of Governors of the Federal Reserve System to carry out a quantitative impact study of any proposed real-time payment system under the Faster Payments Initiative before implementing such system.
Introduced
Introduced in House on Jul 24, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3939
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
This bill prohibits the Federal Reserve Board from developing, building, or implementing a real-time payment system until one year after submitting a report to Congress regarding such a system. This report must include a quantitative impact study.
July 24, 2019
07/24/2019
Referred to the House Committee on Financial Services.
07/24/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 1:50:25 PM