,i #aaith ,,congress #b;d ,session ,h4 ,r4 #icca ,,in ,,the ,,house ,,of ,,representatives ,june #ah1 #bjbf,mrs4 ,kim introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to amend the ,expedited ,funds ,availability ,act to provide exceptions in the case of fraudulent checks or wire transfers1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,strengthening ,transaction ,oversight and ,preventing ,payments ,fraud ,act of #bjbf or the ,,stop ,payments ,fraud ,act of #bjbf4 #b4 ,parity of availability for certain checks ,the ,expedited ,funds ,availability ,act 7#ab ,u4,s4,c4 #djja et seq47 is amended-- 7a7 in section #fjc 7#ab ,u4,s4,c4 #djjb7-- 7#a7 in subsection 7a77#b7-- 7,a7 by striking subparagraphs 7,a7 and 7,f72 7,b7 by redesignating subparagraphs 7,b7 through 7,e7 as subparagraphs 7,a7 through 7,d71 respectively2 and 7,c7 in subparagraph 7,c71 as so redesignated1 by adding and at the end2 and 7#b7 in subsection 7d71 by striking paragraph 7#a7 and the heading to paragraph 7#b72 and 7b7 in section #fjd7;a77#a77;,d71 by striking subparagraph 7,a71 7,b71 or 7,c7 and inserting subparagraph 7,a7 or 7,b74 #c4 ,exception to funds availability requirements in the case of fraud ,section #fjd7;c7 of the ,expedited ,funds ,availability ,act 7#ab ,u4,s4,c4 #djjc7;c77 is amended-- 7#a7 in paragraph 7#a71 in the heading of the paragraph1 by striking ,in general and inserting ,collectability2 7#b7 by redesignating paragraphs 7#b7 through 7#d7 as paragraphs 7#c7 through 7#e71 respectively2 7#c7 by inserting after paragraph 7#a7 the following3 7#b7 ,fraud 7,a7 ,regulations ,in accordance with regulations which the ,board1 jointly with the ,director of the ,bureau of ,consumer ,financial ,protection1 shall prescribe1 subsections 7a77#b71 7b71 7c71 and 7e7 of section #fjc shall not apply with respect to any check deposited in an account at a depository institution if the receiving depository institution has reasonable suspicion to believe that the check is false1 unauthorized1 or otherwise involves fraud4 ,for purposes of the preceding sentence1 reasonable suspicion to believe that a check is false1 unauthorized1 or otherwise involves fraud requires the existence of indicators that would lead a reasonable person to suspect that the check involves fraud4 ,such reasons shall be included in the notice required under subsection 7f74 7,b7 ,rule of application ,a receiving depository institution that has reasonable suspicion to believe that a check is false1 unauthorized1 or otherwise involves fraud1 as described in subparagraph 7,a71 may also have reasonable cause to believe that such check is uncollectible from the originating depository institution1 as described in paragraph 7#a74 2 and 7#d7 in paragraph 7#d71 as so redesignated1 by striking paragraph 7#a7 and inserting paragraph 7#a7 or 7#b74 #d4 ,exception to funds availability requirements in the case of new accounts and fraudulent wire transfers ,section #fjd of the ,expedited ,funds ,availability ,act 7#ab ,u4,s4,c4 #djjc7 is amended by adding at the end the following3 7g7 ,application of certain exceptions in circumstances with greater fraud risk ,with respect to an account established at a depository institution1 and without regard to whether the account was established by a new depositor1 upon the occurrence of circumstances identified by rule by the ,board1 jointly with the ,director of the ,bureau of ,consumer ,financial ,protection1 as associated with greater fraud risk1 the provisions of paragraphs 7#a7 through 7#c7 of subsection 7a7 shall apply with respect to any deposit in such account for a period of time determined by rule by the ,board1 jointly with the ,director of the ,bureau of ,consumer ,financial ,protection1 but not to exceed #fj days for each such occurrence4 7h7 ,reasonable suspicion exception for wire transfers 7#a7 ,in general ,in accordance with regulations which the ,board1 jointly with the ,director of the ,bureau of ,consumer ,financial ,protection1 shall prescribe1 section #fjc7;a77#a77;,b7 shall not apply with respect to funds received by a depository institution by wire transfer if the receiving depository institution has reasonable suspicion to believe that the wire transfer is false1 unauthorized1 or otherwise involves fraud4 ,for purposes of the preceding sentence1 reasonable suspicion to believe that a wire transfer is false1 unauthorized1 or otherwise involves fraud requires the existence of indicators that would lead a reasonable person to suspect that the wire transfer involves fraud4 ,such reasons shall be included in the notice required under subsection 7f74 7#b7 ,basis for determination ,no determination under this subsection may be based on any class of wire transfers or persons4 7#c7 ,overdraft fees ,if the receiving depository institution determines that a wire transfer for credit to an account is a wire transfer described in paragraph 7#a71 the receiving depository institution shall not assess any fee for any subsequent overdraft with respect to such account1 if-- 7,a7 the depositor was not provided with the written notice required under subsection 7f7 7with respect to such determination7 at the time the wire transfer was delayed for credit2 and 7,b7 the overdraft would not have occurred but for the fact that the funds so transferred are not available4 7#d7 ,compliance ,each agency referred to in section #faj7;a7 shall monitor compliance with the requirements of this subsection in each regular examination of a depository institution4 ,for the purpose of this paragraph1 each depository institution shall retain a record of each notice provided under subsection 7f7 as a result of the application of this subsection4 7i7 ,rule of construction ,nothing in this ,act may be construed to restrict or prohibit a depository institution involved with a deposit by check or wire transfer from communicating to any other depository institution also involved with the deposit that a depository institution has invoked an exception under this section to some or all of the requirements of section #fjc with respect to the deposit4 4