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Unclaimed Deposits Amendments Act of 1993

Public Law 103-44 · H.R. 890 · 103rd Congress · began in the House

Signed by Bill Clinton (D) on Jun 28, 1993 · Finance and Financial Sector

Sponsor: Rep. Barney Frank (D-MA-4)

Cosponsors (10): Rep. Gary Ackerman,

Passage votes

  • HouseUnanimous consent
  • SenateVoice vote
Data notes

The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.

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Summary

The Congressional Research Service’s plain-language summary of what the law does.

Amends the Federal Deposit Insurance Act to require the Federal Deposit Insurance Corporation (FDIC) to send: (1) a first notice to all insured depositors within 30 days after beginning to pay off depositors that they must claim their deposits from the FDIC (or from any transferee institution if the deposit has been transferred); and (2) a second notice after 15 months after beginning to pay off depositors to all those who have not responded to the first notice. Requires the FDIC to transfer, within 18 months after beginning to pay off depositors, any unclaimed deposits to the State of a depositor's last known address (or, if the address is outside the United States, to the State in which the failed institution had its main office). Permits an insured depositor to claim from the FDIC after the 18-month period any deposit a State has refused to accept, but only until the receivership is terminated.

Permits States to keep an unclaimed deposit for ten years, after which, if remaining unclaimed, it must refund the deposit to the FDIC.

Makes a specified rule for receiverships in progress before the enactment of this Act.

Committees

The committees the bill was sent to, and what each did with it.

  • Financial Services Committee · House · referred toSubcommittee: Financial Institutions Supervision, Regulation and Deposit Insurance Subcommittee
Data notes

A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.

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Timeline

From introduction to signing, newest first: the committees, the floor and the president. 20 actions.

  1. Jun 28, 1993Became lawBecame law · Became Public Law No: 103-44.
  2. Became lawBecame law · Signed by President.
  3. Jun 16, 1993PresidentPresident · Presented to President.
  4. Jun 9, 1993Resolving differencesResolving differences · Motion to reconsider laid on the table Agreed to without objection.
  5. Resolving differencesResolving differences · On motion that the House agree to the Senate amendments Agreed to without objection.
  6. Resolving differencesResolving differences · Mr. Neal (NC) asked unanimous consent that the House agree to the Senate amendments.
  7. May 27, 1993FloorFloor · Passed Senate with an amendment by Voice Vote.
  8. FloorFloor · Amendment SP 387 agreed to in Senate by Voice Vote.
  9. FloorFloor · Measure laid before Senate by unanimous consent.
  10. Mar 2, 1993FloorFloor · The title of the measure was amended. Agreed to without objection.
  11. FloorFloor · Motion to reconsider laid on the table Agreed to without objection.
  12. FloorFloor · On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays (2/3 required): 409 - 1 (Roll No. 43).House roll call 43
  13. FloorFloor · At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 5, rule I, the chair announced that further proceedings on the motion would be postponed.
  14. FloorFloor · Mr. Neal (NC) moved to suspend the rules and pass the bill, as amended.
  15. Feb 24, 1993CommitteeCommittee · Reported by Financial Institutions Supervision, Regulation and Deposit Insurance Subcommittee of the House Financial Services Committee
  16. CommitteeCommittee · Markup by Financial Institutions Supervision, Regulation and Deposit Insurance Subcommittee of the House Financial Services Committee
  17. CommitteeCommittee · Hearings by Financial Institutions Supervision, Regulation and Deposit Insurance Subcommittee of the House Financial Services Committee
  18. CommitteeCommittee · Referred to Financial Institutions Supervision, Regulation and Deposit Insurance Subcommittee of the House Financial Services Committee
  19. Feb 16, 1993CommitteeCommittee · Referred to House Financial Services Committee
  20. IntroducedIntroduced · Introduced in the House
Data notes

Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.

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Official record

The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.