H.R. 3939: To require the Board of Governors of the Federal Reserve System to carry out a quantitative impact study of any proposed real-time payment system under the Faster Payments Initiative before implementing such system.

H.R. 3939: To require the Board of Governors of the Federal Reserve System to carry out a quantitative impact study of any proposed real-time payment system under the Faster Payments Initiative before implementing such system.

116th Congress · introduced 2019-07-24 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

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Where it came from: introduced 2019-07-24 · official record
Who proposed it: Rep. Budd, Ted [R-NC-13] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

To require the Board of Governors of the Federal Reserve System to carry out a quantitative impact study of any proposed real-time payment system under the Faster Payments Initiative before implementing such system.

Plain summary

This bill prohibits the Federal Reserve Board from developing, building, or implementing a real-time payment system until one year after submitting a report to Congress regarding such a system. This report must include a quantitative impact study.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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If it passes both chambers and is signed, it becomes law.

A “Nay” vote

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What does this mean? (plain words)

Official text

To require the Board of Governors of the Federal Reserve System to carry out a quantitative impact study of any proposed real-time payment system under the Faster Payments Initiative before implementing such system.

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Budd, Ted [R-NC-13] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Rep. Budd, Ted [R-NC-13] reported raising $1.8 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Ballot initiative: A proposed law or constitutional amendment that citizens place on the ballot by gathering enough voter signatures, so voters decide it directly. About half the states allow some form of it.
Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-116hr3939.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/hr>

Record fed-us-cong116-hr3939 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116