S. 3108 · 116th Congress
Consumer Transaction Account Protection Act of 2019
- Stage
- In committee
- Sponsor
- Doug Jones
- Introduced
- 2019-12-19
- Latest action
- 2019-12-19 · Introduced in Senate
Summary
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.