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.
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.
Referred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line