Brokered Deposit Affiliate-Subsidiary Modernization Act of 2019

Hozzl · 2022-10-28T01:46:13Z

Explore the details of Senate Bill 3111 Brokered Deposit Affiliate-Subsidiary Modernization 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 3111

Brokered Deposit Affiliate-Subsidiary Modernization Act of 2019

This bill excludes affiliates and subsidiaries of an insured depository institution from certain limitations applicable to brokered deposits. It also expands the definition of an employee of an insured depository institution, thereby exempting these individuals from treatment as a deposit broker.

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Current Status of Bill S 3111

Bill S 3111 is currently in the status of Bill Introduced since December 19, 2019. Bill S 3111 was introduced during Congress 116 and was introduced to the Senate on December 19, 2019. Bill S 3111'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 3111

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 3111

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

Bank accounts, deposits, capitalBanking and financial institutions regulation

Alternate Title(s) of Bill S 3111

Brokered Deposit Affiliate-Subsidiary Modernization Act of 2019Brokered Deposit Affiliate-Subsidiary Modernization Act of 2019A bill to amend the Federal Deposit Insurance Act to exclude affiliates and subsidiaries of insured depository institutions from the definition of deposit broker, and for other purposes.

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