S. 3111 · 116th Congress
Brokered Deposit Affiliate-Subsidiary Modernization Act of 2019
- Stage
- In committee
- Sponsor
- David Perdue
- Introduced
- 2019-12-19
- Latest action
- 2019-12-19 · Introduced in Senate
Summary
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.