H.R. 4384 · 116th Congress
Community Bank Deposit Access Act of 2019
- Stage
- In committee
- Sponsor
- Charlie Crist
- Introduced
- 2019-09-18
- Latest action
- 2019-09-18 · Introduced in House
Summary
Community Bank Deposit Access Act of 2019
This bill specifies that certain custodial deposits shall not be considered to be brokered deposits, which are subject to additional regulatory requirements, including those related to liquidity. The bill generally defines a custodial deposit as a deposit made by a certain entity serving as an agent, trustee, or custodian at an insured depository institution for the purpose of providing deposit insurance for the benefit of a third party.