S. 2348 · 118th Congress
Payments Modernization Act of 2023
- Stage
- In committee
- Sponsor
- Chris Van Hollen
- Introduced
- 2023-07-18
- Latest action
- 2023-07-18 · Introduced in Senate
Summary
Payments Modernization Act of 2023
This bill requires depository institutions to make deposits available for withdrawal in real time. Under current law, deposits must be made available according to specified schedules based on the type of deposit.
The Government Accountability Office must publish a study on the impact payment delays have on disadvantaged communities.