A bill to amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.
Keeping Capital Local for Underserved Communities Act of 2017
This bill specifies that certain reciprocal deposits shall not be considered to be brokered deposits. (Brokered deposits are subject to additional regulatory requirements, including those related to liquidity.)
Became Public Law No: 115-174.
Referred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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