United States 114th Congress Status: Died 1 R cosponsors

HR 766 — Financial Institution Customer Protection Act of 2016

Last action — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Track this bill free

No card. One bill, free forever — alerts when it moves.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Financial Institution Customer Protection Act of 2016 (Sec. 2) This bill prohibits a federal banking agency from formally or informally suggesting, requesting, or ordering a depository institution to terminate either a specific customer account, or group of customer accounts, or otherwise restrict or discourage it from entering into or maintaining a banking relationship with a specific customer or group of customers, unless: (1) the agency has a material reason to do so, and (2) the reason is not based solely on reputation risk. The "material reason" criterion shall be satisfied if an agency believes that a specific customer or group of customers poses a threat to national security, including any belief that they are involved in terrorist financing. Unless the appropriate agency determines that the customer or group of customers has used due diligence to avoid doing business with any entity described below, the bill deems the criteria addressing "material reason" to be met if the agency believes a customer or group of customers is, or is acting as, a conduit for an entity which: poses a threat to national security; is involved in terrorist financing; is an agency of the government of Iran, North Korea, Syria, or any country listed from time to time on the State Sponsors of Terrorism list; is either located in, or subject to the jurisdiction of, any of such countries; or does business with any entity located in such countries. If an appropriate federal banking agency orders a depository institution to terminate a specific customer account or a group of customer accounts, the depository institution shall inform the customer or customers of the justification for the termination. No notice may be given to the customer, however, if the agency requests or orders a depository institution to terminate a customer account (or a group of customer accounts) based upon a belief that customer or those customers pose a threat to national security or are otherwise described above. (Sec. 3) The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 is amended to revise requirements for summoning witnesses and requiring production of books or other records the Attorney General deems relevant or material to a civil investigation in contemplation of a civil proceeding which may result in civil penalties for specified violations.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 766 on the official United States source →

Action History

  1. Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

  2. Motion to reconsider laid on the table Agreed to without objection.

  3. On passage Passed by the Yeas and Nays: 250 - 169 (Roll no. 63).

  4. MOMENT OF SILENCE - The House observed a moment of silence in memory of 12 Marines who lost their lives in a January 14 training accident in Hawaii.

  5. On motion to recommit with instructions Failed by the Yeas and Nays: 177 - 240 (Roll no. 62).

  6. The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H582)

  7. DEBATE - The House proceeded with 10 minutes of debate on the Castor (FL) motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add at the end of the bill the following to ensure financial institutions must prove to federal banking regulatory agencies that in the preceding 5 years they have not been subjected to a consent order, settlement, deferred prosecution agreement, or civil or criminal penalty for unfair or deceptive acts and practices relating to the sale of a mortgage product.

  8. Ms. Castor (FL) moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H581-582; text: CR H581)

  9. The previous question was ordered pursuant to the rule. (consideration: CR H580)

  10. The House rose from the Committee of the Whole House on the state of the Union to report H.R. 766.

  11. H.Amdt.928 On agreeing to the Gosar amendment (A002) Agreed to by voice vote.

  12. DEBATE - Pursuant to the provisions of H. Res. 595, the Committee of the Whole proceeded with 10 minutes of debate on the Gosar amendment No. 2.

  13. H.Amdt.928 Amendment (A002) offered by Mr. Gosar. (consideration: CR H579-580; text: CR H579)

  14. H.Amdt.927 On agreeing to the Sherman amendment (A001) Agreed to by voice vote.

  15. DEBATE - Pursuant to the provisions of H. Res. 595, the Committee of the Whole proceeded with 10 minutes of debate on the Sherman amendment No. 1.

  16. H.Amdt.927 Amendment (A001) offered by Mr. Sherman. (consideration: CR H578-579; text: CR H578)

  17. GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 766.

  18. The Speaker designated the Honorable Alexander X. Mooney to act as Chairman of the Committee.

  19. House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 595 and Rule XVIII.

  20. Resolution provides for consideration of H.R. 1675 and H.R. 766.

  21. Considered under the provisions of rule H. Res. 595. (consideration: CR H570-583; text of amendment in the nature of a substitute: CR H578)

  22. Rule H. Res. 595 passed House.

  23. Rules Committee Resolution H. Res. 595 Reported to House. Resolution provides for consideration of H.R. 1675 and H.R. 766.

  24. Placed on the Union Calendar, Calendar No. 305.

  25. Reported by the Committee on Financial Services. H. Rept. 114-402.

  26. Ordered to be Reported by the Yeas and Nays: 35 - 19.

  27. Committee Consideration and Mark-up Session Held.

  28. Committee Consideration and Mark-up Session Held.

  29. Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

  30. Referred to the House Committee on Financial Services.

  31. Introduced in House

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

Show all 546 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HR 766 do?
Financial Institution Customer Protection Act of 2016 (Sec. 2) This bill prohibits a federal banking agency from formally or informally suggesting, requesting, or ordering a depository institution to terminate either a specific customer account, or group of customer accounts, or otherwise restrict or discourage it from entering into or maintaining a banking relationship with a specific customer or group of customers, unless: (1) the agency has a material reason to do so, and (2) the reason is not based solely on reputation risk. The "material reason" criterion shall be satisfied if an agency believes that a specific customer or group of customers poses a threat to national security, including any belief that they are involved in terrorist financing. Unless the appropriate agency determines that the customer or group of customers has used due diligence to avoid doing business with any entity described below, the bill deems the criteria addressing "material reason" to be met if the agency believes a customer or group of customers is, or is acting as, a conduit for an entity which: poses a threat to national security; is involved in terrorist financing; is an agency of the government of Iran, North Korea, Syria, or any country listed from time to time on the State Sponsors of Terrorism list; is either located in, or subject to the jurisdiction of, any of such countries; or does business with any entity located in such countries. If an appropriate federal banking agency orders a depository institution to terminate a specific customer account or a group of customer accounts, the depository institution shall inform the customer or customers of the justification for the termination. No notice may be given to the customer, however, if the agency requests or orders a depository institution to terminate a customer account (or a group of customer accounts) based upon a belief that customer or those customers pose a threat to national security or are otherwise described above. (Sec. 3) The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 is amended to revise requirements for summoning witnesses and requiring production of books or other records the Attorney General deems relevant or material to a civil investigation in contemplation of a civil proceeding which may result in civil penalties for specified violations.
Who sponsors HR 766?
HR 766 is sponsored by Blaine Luetkemeyer (R).
What is the current status of HR 766?
This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 766?
Track HR 766 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on HR 766

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of HR 766

Last checked for changes about 9 hours ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →