PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking.
Congressional Research Service
Version 00 · Introduced in Senate · Jun 16, 1993
Secured Payment Act of 1993 - Amends the International Emergency Economic Powers Act to prohibit the President from regulating or prohibiting, in the exercise of emergency economic powers, payments under irrevocable letters of credit issued by a U.S. or foreign bank of amounts owed to or for the benefit of a U.S. national that is the beneficiary of such a letter of credit and that performed its obligations under an underlying contract before the declaration of a national emergency. Makes such prohibition inapplicable to U.S. nationals found to have violated the Export Administration Act of 1979 or the Arms Export Control Act.
People & committees
Sen. Robb, Charles S. [D-VA] · D–VA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Banking.
Sponsor introductory remarks on measure. (CR S7383)
Introduced in Senate
Primary sources
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Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.
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