ABSTRACT

Congressional Budget Office Cost Estimate: H.R. 2706: Financial Institution Customer Protection Act of 2017   [open pdf - 85KB]

"H.R. 2706 would prohibit federal banking regulators--the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Federal Reserve--from requesting or requiring that a depository institution terminate certain customer accounts except in specific circumstances affecting national security. The bill also would require each federal banking regulator to report annually on the number of requests to terminate customer accounts that any of those agencies has made to a bank. [...] Because enacting H.R. 2706 would affect direct spending and revenues, pay-as-you-go procedures apply. CBO [Congressional Budget Office] estimates that enacting H.R. 2706 would not significantly affect net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028."

Publisher:United States. Congressional Budget Office
Date:2017-10-31
Copyright:Public Domain
Retrieved From:Congressional Budget Office: http://www.cbo.gov/
Format:pdf
Media Type:application/pdf
URL:https://www.hsdl.org/?view&did=805379
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