Delaware House Bill 364 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on August 10 2016 - 100% progression
Action: 2016-08-10 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]

The Electronic Funds Transfer Act (“EFTA”) was originally drafted to govern only consumer wire transfers. As a result, 4A-108 of Title 6 of the Delaware Code excluded fund transfers governed by EFTA from the scope of Article 4A of Title 6 (“Article 4A”). However, in 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act amended EFTA (“Dodd-Frank amendments”) to bring remittance transfers that are electronic fund transfers within its scope. Therefore, under 4A-108 of Title 6, even a remittance transfer that is not an electronic fund transfer, such as a commercial remittance transfer, is currently outside the scope of Article 4A. Consequently, there are no statutory rules governing remittance transfers that may involve mistaken addresses or payees, duties of intermediaries, and other issues beyond the initial sending of the transfer. This Act fills the gap created by the Dodd-Frank amendments by bringing under Article 4A remittance transfers that are not electronic fund transfers under EFTA, to the extent there is not an inconsistency between Article 4A and EFTA.

An Act To Amend Title 6 Of The Delaware Code Relating To Funds Transfers.

Rep. Bryon Short [D]	Sen. Bryan Townsend [D]	Rep. Paul Baumbach [D]	Rep. Ruth Briggs King [R]
Rep. Ruth Briggs King [R]	Rep. Helene Keeley [D]	Rep. Sean Lynn [D]	Rep. Melanie Smith [D]
Sen. Colin Bonini [R]	Sen. Bethany Hall-Long [D]	Sen. Gerald Hocker [R]	Sen. Gregory Lavelle [R]
Sen. Ernesto Lopez [R]

2016-07-01 - Senate - Senate Third Reading (Y: 20 N: 0 NV: 0 Abs: 1) [PASS]

Date	Chamber	Action
2016-08-10	House	Signed by Governor
2016-07-01	Senate	Passed by Senate. Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
2016-06-08	Senate	Reported Out of Committee (BANKING AND BUSINESS) in Senate with 4 On Its Merits
2016-05-18	Senate	Assigned to Banking and Business Committee in Senate
2016-05-17	House	Passed by House of Representatives. Votes: Passed 39 YES 0 NO 0 NOT VOTING 2 ABSENT 0 VACANT
2016-05-11	House	Reported Out of Committee (ECONOMIC DEVELOPMENT/BANKING/INSURANCE/COMMERCE) in House with 8 On Its Merits
2016-05-05	House	Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House

Type	Source
Summary	http://legis.delaware.gov/LIS/lis148.nsf/2bede841c6272c888025698400433a04/35eb79fbfb9f04be85257f9e0045de18?OpenDocument
Text	http://legis.delaware.gov/LIS/lis148.nsf/vwLegislation/HB+364/$file/legis.html?open
Roll Call	http://legis.delaware.gov/LIS/lis148.nsf/7712cf7cc0e9227a852568470077336f/dbc9053d01088a1885257fe300219d4a?OpenDocument