FEDERAL RESERVE BOARD STUDY ON BANKFEES.

SEC. 108. FEDERAL RESERVE BOARD STUDY ON BANKFEES. (a) In General.—Section 1002 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1811 note) is amended to read as follows: “SEC. 1002. SURVEY OF BANK FEESANDSERVICES. “(a) Annual survey required.—The Board of Governors of the Federal Reserve System shall obtain a sample, which is representative by geographic location and size of the institution, of— “(1) certain retail banking services provided by insured depository institutions; and “(2) the fees, if any, which are imposed by such institutions for providing any such service, including fees imposed for not sufficient funds, deposit items returned, and automated teller machine transactions. “(b) Annual Report To Congress Required.— “(1) Preparation.—The Board of Governors of the Federal Reserve System shall prepare a report of the results of each survey conducted pursuant to subsection (a). “(2) Contents of the report.—Each report prepared pursuant to paragraph (1) shall include— “(A) a description of any discernible trend, in the Nation as a whole and in each region, in the cost and availability of retail banking services which delineates dif-108 STAT. 2362ferences on the basis of size of the institution and engagement in multistate activity; and “(B) a description of the correlation, if any, among the following factors: “(i) An increase or decrease in the amount of any deposit insurance premium assessed by the Federal Deposit Insurance Corporation against insured depository institutions. “(ii) An increase or decrease in the amount of the fees imposed by such institutions for providing retail banking services. “(iii) A decrease in the availability of such services. “(3) Submission to congress.—The Board of Governors of the Federal Reserve System shall submit an annual report to the Congress not later than September 1, 1995, and not later than June 1 of each subsequent year.”. (b) Sunset.—The requirements of subsection (a) shall not apply after the end of the 7-year period beginning on the date of enactment of this Act.