A bill to amend the Federal Deposit Insurance Act to exclude affiliates and subsidiaries of insured depository institutions from the definition of 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.
Brokered Deposit Affiliate-Subsidiary Modernization Act of 2019
This bill excludes affiliates and subsidiaries of an insured depository institution from certain limitations applicable to brokered deposits. It also expands the definition of an employee of an insured depository institution, thereby exempting these individuals from treatment as a deposit broker.
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