HR 6866
115th Congress
House
Finance and Financial Sector
Bank accounts, deposits, capital
Banking and financial institutions regulation
Insurance industry and regulation
To clarify exclusions from the definition of a deposit broker.
Introduced: September 24, 2018
Introduced by:
LaHood, Darin
Republican
· Illinois
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 24, 2018
Referred to the House Committee on Financial Services.
Sep 24, 2018
Introduced in House
Plain-English summary
This bill excludes from the definition of "deposit broker" an entity that is an exclusive agent of an insurance company and an affiliated depository institution. Deposit brokers place, or facilitate the placement of, deposits in a depository institution. Generally, under current law, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit. This bill excludes certain deposits from those restrictions.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1