S 2555 · 98th Congress · Finance and Financial Sector

Deposit Insurance Flexibility Act Amendments of 1984

Introduced 1984-04-11· Sponsored by Sen. Hawkins, Paula [R-FL]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Banking requested executive comment from Federal Home Loan Bank Board, Federal Reserve System.(1984-04-27)

Plain Language Summary

[AI summary unavailable — showing source text] Deposit Insurance Flexibility Act Amendments of 1984 - Amends the National Housing Act to provide that where a merger, consolidation, transfer, or acquisition involves an insured savings institution which is eligible for assistance and a bank or bank holding company, an insured savings institution may retain and operate any existing branch or branches, including one or more remote service units, but otherwise shall be subject to the conditions upon which a national bank may establish and operate branches in the State in which such insured institution is located. Requires an insured institution acquired by a bank or bank holding company to be operated as a separate, independent, profit-oriented corporate entity. Prohibits an acquiring institution, bank subsidiary, or other subsidiary of the acquiring institution from linking its deposit taking activities to accounts at such insured institution, or soliciting deposits or loans for the insured institution. Prohibits an acquired insured institution or any of its subsidiaries from soliciting deposits or loans for the acquiring institution. Prohibits an acquired insured institution from: (1) changing its name in such a fashion as to conf…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (2)

2 Democrats