Absorption of Exchange Or Collection Charges by Member Banks: Hearings, Seventy-eighth Congress, Second Session, on S. 1642 and H.R. 395, Bills to Amend the Federal Reserve Act, as Amended, to Provide that the Absorption of Exchange and Collection Charges Shall Not be Deemed the Payment of Interest on Deposits. Dec. 7-8, 11-15, 1944 |
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absorb exchange charges absorb the exchange absorption of exchange amendment American Bankers Association amount Atlanta balances Banking and Currency banking system believe Board of Governors Brown-Maybank bill Carolina cash cents Chairman charging exchange checks drawn Congress correspondent bank cost Currency Committee customers demand deposits Deposit Insurance Corporation depositors DRAWDY earnings enacted enforce expense fact Federal Deposit Insurance Federal Reserve Act Federal Reserve banks Federal Reserve Board Federal Reserve System gentlemen Georgia GIDNEY GORMLEY HAUGO hearings income interest on demand legislation letter Louisville bank Maybank bill MCDONNELL member banks National Bank nonmember banks nonpar banks operate out-of-pocket expenses paid payment of interest percent practice of charging profit prohibition question regulation Q remit ruling Senator BUCK Senator BUTLER Senator HAWKES Senator MAYBANK Senator MCCLELLAN Senator TAFT service charge small banks small country bank statement thing THORNTON tion
Popular passages
Page 259 - ... trust funds", to determine what shall be deemed to be a payment of interest, and to prescribe such rules and regulations as it may deem necessary to effectuate the purposes of this section and prevent evasions thereof : Provided, That, within the meaning of the provisions of this section regarding the reserves required of member banks, the term "time deposits...
Page 1 - October 14, 1940, as amended, is amended by inserting before the period at the end thereof a colon and the following : "Provided further, That...
Page 127 - UNITED STATES SENATE, COMMITTEE ON BANKING AND CURRENCY, Washington, DC The committee met at 10:30 am, pursuant to adjournment on yesterday, in room 301, Senate Office Building, Senator Robert F.
Page 291 - I did file such a bill in the Supreme Court of the United States. The Supreme Court of the United States...
Page 298 - Board, but in no case to exceed 10 cents per $100 or fraction thereof, based on the total of checks and drafts presented at any one time, for collection or payment of checks and drafts and remission therefor by exchange or otherwise...
Page 44 - The committee will be in recess until 2 o'clock this afternoon. (Whereupon, at 12:80 pm, a recess was taken until 2 pm of the same day.) AFTERNOON SESSION (The committee reconvened at 2 pm upon the expiration of the recess.) The CHAIRMAN.
Page 262 - That nothing in this or any other section of this act shall be construed as prohibiting a member or non-member bank from making reasonable charges...
Page 275 - System of regulation Q will materially affect the present well-ordered operation of the banking institutions in South Carolina: Now, therefore, be it Resolved, That it is the sense of this Board that the Congress should immediately take the necessary action to...
Page 268 - Within this part any payment to or for the account of any depositor as compensation for the use of funds constituting a deposit shall be considered interest.* (b) Exceptions.
Page 292 - ... non-member bank or trust company deposits of current funds in lawful money, nationalbank notes, Federal reserve notes, checks and drafts payable upon presentation, or maturing notes and bills: Provided, Such nonmember bank or trust company maintains with the Federal reserve bank...