Retail/Marketing

FDIC Updates FAQ on Brokered Deposits

The FDIC on Friday updated its controversial FAQs on identifying, accepting, and reporting brokered deposits and sought comment on the revisions. The document was originally issued in January and caused widespread confusion and frustration at banks as it seemed to broaden the scope of deposits deemed “brokered.” In response to ABA’s concerns, FDIC staff encouraged banks to reach out to ...

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