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HR 907 116th 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: January 30, 2019 Introduced by: LaHood, Darin Republican · Illinois See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 30, 2019
Referred to the House Committee on Financial Services.
Jan 30, 2019
Introduced in House
 Plain-English summary Congressional Research Service

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 January 30, 2019

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1