Depository Institution Service Corporation Reform Act of 1994

Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Mar 21, 1994

Depository Institution Service Corporation Reform Act of 1994 - Title I: Bank Service Corporation Act Amendments - Amends the Bank Service Corporation Act to place insured depository institutions under its jurisdiction and rename such Act the "Depository Institutions Service Corporation Act." Allows an insured depository institution to invest in more than one depository institution service corporation. Prescribes investment limits, and reduces from five percent to three percent the percentage of total assets that may be so invested. Requires a depository institution service corporation to obtain prior written approval of the appropriate Federal banking agency before paying management fees to an institution-affiliated party (or to any corporation owned by such party). Prohibits a depository institution service corporation from performing activities or services that are not permissible for a national bank.

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People & committees

Who introduced it

Rep. Leach, James A. [R-IA-1] · R–IA

Committees

Financial Services Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Apr 7, 1994
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.
Mar 21, 1994
Referred to the House Committee on Banking, Finance + Urban Affrs.
Mar 21, 1994
Introduced in House
Mar 21, 1994
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Mar 21, 1994 Formatted Text PDF

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.4097 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.

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Discuss H.R.4097, 103rd Congress: Depository Institution Service Corporation Reform Act of 1994

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/4097

Text version to examine: Introduced in House · 1994-03-21.

Official full text: https://www.congress.gov/103/bills/hr4097/BILLS-103hr4097ih.htm

Imported record last updated by the source: 2025-08-26T13:50:45Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.4097 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.

Fairness and public impact

Progressive lens

Examine H.R.4097 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.

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Discuss H.R.4097, 103rd Congress: Depository Institution Service Corporation Reform Act of 1994

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/4097

Text version to examine: Introduced in House · 1994-03-21.

Official full text: https://www.congress.gov/103/bills/hr4097/BILLS-103hr4097ih.htm

Imported record last updated by the source: 2025-08-26T13:50:45Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.4097 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.

Institutions and government scope

Conservative lens

Examine H.R.4097 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.

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Discuss H.R.4097, 103rd Congress: Depository Institution Service Corporation Reform Act of 1994

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/4097

Text version to examine: Introduced in House · 1994-03-21.

Official full text: https://www.congress.gov/103/bills/hr4097/BILLS-103hr4097ih.htm

Imported record last updated by the source: 2025-08-26T13:50:45Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.4097 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.

Individual rights and government power

Liberty lens

Examine H.R.4097 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.

View full prompt & sources

Discuss H.R.4097, 103rd Congress: Depository Institution Service Corporation Reform Act of 1994

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/4097

Text version to examine: Introduced in House · 1994-03-21.

Official full text: https://www.congress.gov/103/bills/hr4097/BILLS-103hr4097ih.htm

Imported record last updated by the source: 2025-08-26T13:50:45Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.4097 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.