The Nation - News from Feb. 26, 1987

Trying to respond to growing and bitter consumer complaints, a House subcommittee approved legislation to cut the time banks can place a “hold” on checks customers deposit in their accounts. The bill, approved on voice vote by the Banking subcommittee on financial institutions, would eventually require that the holds not exceed one day for local checks and four days for out-of-state checks. The bill now goes to the full House Banking Committee.