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Congressional Research Service
Version 00 · Introduced in Senate · Aug 25, 1994
Directs the Board of Governors of the Federal Reserve System to make exceptions to the Truth in Lending Act and the Expedited Funds Availability Act for a specified time for transactions within an area eligible for disaster relief due to the 1994 flood damage from Tropical Storm Alberto (the Storm) in Georgia, Alabama, and Florida (if it determines that this can alleviate hardships to the public that outweigh possible adverse effects). Cites circumstances under which the appropriate Federal banking agency may permit an insured depository institution in the disaster area, in calculating compliance with the leverage limit prescribed by the Federal Deposit Insurance Act, to subtract from its total assets an amount not exceeding the qualifying amount attributable to insurance proceeds. Expresses the sense of the Congress that specified Federal banking regulatory agencies should encourage depository institutions to meet the financial services needs of their communities and customers located in such disaster areas affected by the Storm.
People & committees
Sen. Nunn, Sam [D-GA] · D–GA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Message on Senate action sent to the House.
Referred to the House Committee on Banking, Finance + Urban Affrs.
Received in the House.
Passed Senate without amendment by Voice Vote. (consideration: CR S12671)
Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.(consideration: CR S12671)
Introduced in Senate
Primary sources
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Source last updated: Feb 6, 2024. Consult Congress.gov for the current record.
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