Financial Institution Customer Protection Act of 2016

February 5, 2015
February 4, 2016
Passed in House

Within this multifaceted banking regulations bill, 1 provision would clarify that federal banking regulators may request or require a financial institution to terminate a relationship with a customer if he or she “poses a threat to national security,” “is engaged in terrorist financing,” “is doing business with Iran, North Korea, Syria, or another State Sponsor of Terrorism,” or “is doing business with an entity of any of these countries.” Offered by Brad Sherman (D-CA), the provision was added as an amendment on 2/4/16 by voice vote.

30 cosponsors (37R, 3D).

See also: S. 2790 of 4/13/16.

Last major action: 2/4/16 passed in House by yea/nay vote, 250–169.

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