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80XH C O N G R E S S
1ST SESSION

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IN T H E HOUSE OF R E P R E S E N T A T I V E S
FEBRUARY 28,1947

Mr.

LARCADE

introduced the following bill; which, was referred to the Committee on Banking and Currency

A BILL
To amend the Federal Eeserve Act, as amended, to provide
that the absorption of exchange and collection charges shall
not be deemed the payment of interest 0 1 deposits.
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Be it enacted by the Senate and House of Bepresentatives of the United States of America in Congress assembled,

3 That the first sentence of the twelfth paragraph of section
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19 of the Federal Eeserve Act, as amended (relating to

5 the payment of interest by member banks on demand de6 posits), is amended by inserting before the period at the
7 end thereof a colon and the following: "Provided further,
8 That this paragraph shall not be deemed to prohibit the
9 absorption of exchange or collection charges by member
10 banks".







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