A bill to amend the Federal Deposit Insurance Act to provide that the consumer transaction account deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.
About This Bill
Committee
Latest Action · December 19, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Consumer Transaction Account Protection Act of 2019
This bill specifies that consumer transaction account deposits of an insured depository institution shall not be considered to be funds obtained through a deposit broker. In general, current law prohibits an insured depository institution that is not well capitalized from accepting funds obtained through a deposit broker for deposit.
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