To clarify exclusions from the definition of a deposit broker.

Summary

This bill excludes from the definition of "deposit broker" an entity that is an exclusive agent of an insurance company and an affiliated depository institution. Deposit brokers place, or facilitate the placement of, deposits in a depository institution. Generally, under current law, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit. This bill excludes certain deposits from those restrictions.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 24 September 2018

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• Introduced in House (PDF)

  Introduced in House · EN · 24 September 2018

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• Introduced in House

  summary · EN · 24 September 2018

  Open at official source

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