To amend the Expedited Funds Availability Act to provide exceptions in the case of fraudulent checks or wire transfers, and for other purposes.
Bill Summary
Allows banks to hold or freeze funds from checks or wire transfers if they suspect fraud, giving them more time to verify the transactions. Requires banks to follow specific procedures when dealing with potentially fraudulent transactions.
Sponsored By
Bill Journey
- Jun 18, 2026
- Jun 18, 2026You Are Here
The committee will review the bill, debate amendments, and vote on whether to advance it to the full chamber.
- TBD
The full chamber debates the bill, may amend it, and votes on whether to pass it.
- TBD
If passed by the first chamber, the other chamber considers, may amend, and votes on the bill.
- TBD
If passed by both chambers, the bill goes to the President to sign into law or veto.
Why It Matters
This bill affects bank customers who deposit checks or receive wire transfers, as they may face delays in accessing their funds if the bank suspects fraud. It also impacts banks, which will have more flexibility to investigate and prevent fraudulent transactions.
Impact Areas
Support & Opposition
- Republican1
Documents
1
Full text opens on congress.gov, the official source.
Bill Details
Summary and impact analysis written by Judy (KnowGov's enrichment AI). Bill metadata, status, sponsor, and any floor votes from Prism. Sections marked “Sample” are placeholders not yet connected to live data.