Consumer Transaction Account Protection Act of 2019

Senate Bill 3108 - Consumer Transaction Account Protection Act of 2019: Overview, Status, and Impact

Hozzl · 2022-10-28T01:46:13Z

Explore the details of Senate Bill 3108 Consumer Transaction Account Protection Act of 2019 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

10/28/2022, 1:46 AM

Congressional Summary of S 3108

Consumer Transaction Account Protection Act of 2019

This bill specifies that consumer transaction account deposits of an insured depository institution shall not be considered to be funds obtained through a deposit broker. In general, current law prohibits an insured depository institution that is not well capitalized from accepting funds obtained through a deposit broker for deposit.

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Current Status of Bill S 3108

Bill S 3108 is currently in the status of Bill Introduced since December 19, 2019. Bill S 3108 was introduced during Congress 116 and was introduced to the Senate on December 19, 2019. Bill S 3108's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of December 19, 2019

Bipartisan Support of Bill S 3108

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3108

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Bank accounts, deposits, capital

- Banking and financial institutions regulation

Alternate Title(s) of Bill S 3108

Consumer Transaction Account Protection Act of 2019

A bill to amend the Federal Deposit Insurance Act to provide that the consumer transaction account deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.