HR 4384 · 116th Congress · Finance and Financial Sector
Community Bank Deposit Access Act of 2019
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Financial Services.(2019-09-18)
Plain Language Summary
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Community Bank Deposit Access Act of 2019 This bill specifies that certain custodial deposits shall not be considered to be brokered deposits, which are subject to additional regulatory requirements, including those related to liquidity. The bill generally defines a custodial deposit as a deposit made by a certain entity serving as an agent, trustee, or custodian at an insured depository institution for the purpose of providing deposit insurance for the benefit of a third party.…
Summarized by Claude AI · Non-partisan · For informational purposes only