HR 5660
114th Congress
House
Finance and Financial Sector
Bank accounts, deposits, capital
Banking and financial institutions regulation
Retail Checking Account Protection Act of 2016
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 27, 2016
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Jul 7, 2016
Referred to the House Committee on Financial Services.
Jul 7, 2016
Introduced in House
Plain-English summary
Retail Checking Account Protection Act of 2016
This bill amends the Federal Deposit Insurance Act to provide that the stable retail deposits of an insured depository institution shall not be considered to be funds obtained by or through a deposit broker. Currently, stable retail deposits are considered brokered deposits. As a result, those deposits are subject to restrictions applicable to other brokered deposits, such as prohibitions on undercapitalized banks accepting brokered deposits. This bill would exclude stable retail deposits from those restrictions.
What's happening now
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Committees of jurisdiction
2
Cosponsors
1