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S. 3111: Brokered Deposit Affiliate-Subsidiary Modernization Act of 2019


We don’t have a summary available yet.

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Dec 19, 2019.


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.