PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 36 · Passed House amended · Mar 2, 1993
Unclaimed Deposits Amendments Act of 1993 - Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to direct the Federal Deposit Insurance Corporation (FDIC), the Resolution Trust Corporation (RTC), and the National Credit Union Administration Board (NCUAB) respectively, in their capacity as receiver, to transfer certain unclaimed insured deposits to the custody of the appropriate State authority for disposition according to its abandoned or unclaimed property laws (thus precluding inadvertent forfeiture of long-term certificates of deposits by owners who were unaware of the need to file claims against the failed institution). Provides for such a transfer when a State accepts the offer. Requires the appropriate regulatory agency, if a State rejects such an offer, to permit a depositor to make a claim against the agency until the receivership ends. Reverts all such transferred unclaimed insured deposits back to the FDIC, RTC, or the NCUAB if they remain unclaimed for a ten-year period. Applies such disposition procedures retroactively to deposits in institutions closed after January 1, 1989 (except for certain institutions in closed receiverships or credit unions fully liquidated before the enactment of this Act). Permits depositors who inadvertently forfeited their insured deposits ("qualifying depositors") to file claims with either the FDIC, the RTC, or the NCUAB, as appropriate.
People & committees
Rep. Frank, Barney [D-MA-4] · D–MA
Legislative record
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Became Public Law No: 103-44.
Became Public Law No: 103-44.
Signed by President.
Signed by President.
Presented to President.
Presented to President.
Motion to reconsider laid on the table Agreed to without objection.
On motion that the House agree to the Senate amendments Agreed to without objection. (consideration: CR H3355)
Resolving differences -- House actions: On motion that the House agree to the Senate amendments Agreed to without objection.(consideration: CR H3355)
Mr. Neal (NC) asked unanimous consent that the House agree to the Senate amendments.
Message on Senate action sent to the House.
Passed Senate with an amendment by Voice Vote. (consideration: CR S6730-6731)
Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.(consideration: CR S6730-6731)
Amendment SP 387 agreed to in Senate by Voice Vote.
Amendment SP 387 proposed by Senator Mitchell for Senator Riegle.
Measure laid before Senate by unanimous consent. (consideration: CR S2777)
Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 33.
Received in the Senate.
The title of the measure was amended. Agreed to without objection.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays (2/3 required): 409 - 1 (Roll No. 43).
House roll call 43 · Individual votesPassed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays (2/3 required): 409 - 1 (Roll No. 43).
House roll call 43 · Individual votesConsidered as unfinished business. (consideration: CR H948)
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 5, rule I, the chair announced that further proceedings on the motion would be postponed.
DEBATE - The House proceeded with forty minutes of debate.
Considered under suspension of the rules. (consideration: CR H920-923)
Mr. Neal (NC) moved to suspend the rules and pass the bill, as amended.
Forwarded by Subcommittee to Full Committee (Amended).
Subcommittee Consideration and Mark-up Session Held.
Subcommittee Hearings Held.
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.
Referred to the House Committee on Banking, Finance + Urban Affrs.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Jan 2, 2025. Consult Congress.gov for the current record.
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