PRINTER'S NO. 2976
No. 346 Session of 1998
INTRODUCED BY HASAY, LESCOVITZ, MAJOR, SERAFINI, READSHAW, PETRARCA, KENNEY, JAMES, SATHER, WALKO, KIRKLAND, YOUNGBLOOD, DeWEESE, HESS, BELARDI, TRELLO, GEORGE, BELFANTI, PESCI, LAUGHLIN, WILT, BAKER, STABACK, TIGUE, SANTONI, RAMOS, DEMPSEY, GORDNER, MELIO, ZUG, ORIE, C. WILLIAMS, JOSEPHS, COY, GEIST, ITKIN AND SEYFERT, FEBRUARY 17, 1998
REFERRED TO COMMITTEE ON INTERGOVERNMENTAL AFFAIRS, FEBRUARY 17, 1998
A RESOLUTION 1 Memorializing the Committee on Banking, Housing, and Urban 2 Affairs of the United States Senate and the Committee on 3 Banking, Finance and Urban Affairs of the United States House 4 of Representatives to petition the Comptroller of the 5 Currency to eliminate fees charged by banks on accounts held 6 by senior citizens. 7 WHEREAS, Federal agencies are increasingly using electronic 8 means to transfer financial benefits directly to the bank 9 accounts of recipients; and 10 WHEREAS, This trend is expected to continue until all Federal 11 program benefits are directly deposited into the accounts of 12 recipients; and 13 WHEREAS, The majority of recipients who are senior citizens 14 will need to access their accounts through methods that may 15 require the payment of fees to banking institutions to be 16 debited from the individual recipient's account; and 17 WHEREAS, Service fees are levied by both Federal and state
1 banking institutions; and 2 WHEREAS, State law cannot regulate the fees of federally 3 chartered institutions; and 4 WHEREAS, The Federal regulatory system can set a uniform 5 policy for service fees to be charged by all banking 6 institutions; therefore be it 7 RESOLVED, That the House of Representatives of the 8 Commonwealth of Pennsylvania memorialize the Committee on 9 Banking, Housing, and Urban Affairs of the United States Senate 10 and the Committee on Banking, Finance and Urban Affairs of the 11 United States House of Representatives to petition the 12 Comptroller of the Currency to develop regulations that would 13 eliminate fees charged to senior citizens to access their 14 Federal benefits; and be it further 15 RESOLVED, That a copy of this resolution be delivered to the 16 respective chairmen of the Committee on Banking, Housing, and 17 Urban Affairs of the United States Senate and the Committee on 18 Banking, Finance and Urban Affairs of the United States House of 19 Representatives. A30L82JS/19980H0346R2976 - 2 -