Depository Institutions Deregulation and Monetary Control Act

Depository Institutions Deregulation and Monetary Control Act

Other short titles	Depository Institutions Deregulation and Monetary Control Act of 1980 Consumer Checking Account Equity Act of 1980 Depository Institutions Deregulation Act of 1980 Financial Regulation Simplification Act of 1980 Monetary Control Act of 1980 Truth in Lending Simplification and Reform Act
Long title	An Act to facilitate the implementation of monetary policy, to provide for the gradual elimination of all limitations on the rates of interest which are payable on deposits and accounts, and to authorize interest-bearing transaction accounts, and for other purposes.
Nicknames	Consumer Checking Account Equity Act of 1979
Enacted by	the 96th United States Congress
Effective	March 31, 1980
Citations
Public law	96-221
Statutes at Large	94 Stat. 132
Codification
Titles amended	12 U.S.C.: Banks and Banking
U.S.C. sections amended	12 U.S.C. ch. 3 § 226
Legislative history
Introduced in the House as H.R. 4986 by Fernand St. Germain (D–RI) on July 27, 1979 Committee consideration by House Banking, Finance, and Urban Affairs, Senate Banking, Housing, and Urban Affairs Passed the House on September 11, 1979 (367-39) Passed the Senate on November 1, 1979 (76-9) Reported by the joint conference committee on March 21, 1980; agreed to by the House on March 27, 1980 (380-13) and by the Senate on March 28, 1980 (agreed) Signed into law by President Jimmy Carter on March 31, 1980

The Depository Institutions Deregulation and Monetary Control Act of 1980 (H.R. 4986, Pub.L. 96–221) (often abbreviated DIDMCA or MCA) is a United States federal financial statute passed in 1980 and signed by President Jimmy Carter on March 31. It gave the Federal Reserve greater control over non-member banks.

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