H.R. 6871 · 110th Congress
Expedited Funds Availability Dollar Limits Adjustment Act of 2008
- Stage
- Reported from committee
- Sponsor
- Carolyn Maloney
- Introduced
- 2008-09-11
- Latest action
- 2008-12-09 · Reported by the Committee on Financial Services. H. Rept. 110-917.
Summary
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Expedited Funds Availability Dollar Limits Adjustment Act of 2008 - Amends the Expedited Funds Availability Act to increase: (1) from $100 to $175 the amount of a federal, state, or local government check that is available for next business day withdrawal; and (2) from $400 to $700 the maximum cash amount of non-government checks available for 5 p.m. withdrawal.
Directs the Board of Governors of the Federal Reserve System to make cost-of-living adjustments to such amounts every five years.