The act modifies the types of funds that are available for immediate withdrawal as a matter of right in real estate transactions by:
Limiting wire transfer funds to only those funds that are wired through a funds-transfer system operated by the federal reserve or the Clearing House Payments Company; and
Adding a real-time or an instant payment made through a funds-transfer service operated by the federal reserve or the Clearing House Payments Company's real-time payments system.(Note: This summary applies to this bill as enacted.)