PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Congressional Research Service
Version 00 · Introduced in House · Aug 2, 1996
Small Business Banking Act of 1996 - Amends the Federal Deposit Insurance Act (FDIA) to authorize any depository institution to permit an owner to make withdrawals by negotiable or transferable instrument from any interest-bearing or dividend bearing account in order to make payments to third parties (currently such withdrawals are permissible only for specified deposits). Amends the Federal Reserve Act, the Home Owners' Loan Act, and the FDIA to repeal the proscription against the payment of interest on demand deposits.
People & committees
Rep. Metcalf, Jack [R-WA-2] · R–WA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the House Committee on Banking and Financial Services.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze H.R.3993 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.3993 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.R.3993 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.R.3993 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.