Tag Archives: brokered deposits

ABA Issues Policy Recommendations on Fintech

As the Treasury prepares to issue its report on nonbank fintech issues, ABA today released a white paper featuring several fintech policy recommendations that would facilitate innovation both inside and outside of the regulated banking system and promote partnerships between banks and nonbanks.

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ABA Supports Bipartisan Reciprocal Deposit Bill

ABA wrote to Sen. Mark Warner (D-Va.) today in support of S. 1500, a bipartisan bill that would update Section 29 of the Federal Deposit Insurance Act to clarify that reciprocal deposits of another insured depository institution are not considered brokered deposits.

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ABA Submits Bipartisan Economic Growth Ideas to Crapo, Brown

ABA today urged the leaders of the Senate Banking Committee to focus on expanding portfolio mortgage lending, modernizing rules on brokered deposits, enhancing bank innovation and providing relief from unnecessary stress tests -- all of which would be bipartisan, common-sense policies to promote economic growth.

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ABA Supports Bipartisan Reciprocal Deposit Bill

ABA today wrote to members of the Senate Banking, Housing and Urban Affairs Committee in support of S. 3373, a bipartisan bill introduced by Sens. Mark Warner (D-Va.) and Jerry Moran (R-Kan.) that would clarify that reciprocal deposits of another insured depository institution are not considered brokered deposits.

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ABA Supports Proposed Legislation on Brokered Deposits

In advance of a congressional hearing on consumer access to banking services this week, ABA today wrote to leaders of the House subcommittee on financial institutions and consumer credit voicing its support for several bills that would provide increased flexibility for brokered and reciprocal deposits.

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ABA Shares Reg Relief Ideas in Final EGRPRA Letter

ABA today filed its fourth and final comment letter in response to the decennial EGRPRA regulatory burden review that the federal banking agencies must conduct. The letter addressed several issues that ABA identified through collaboration with banks of all sizes and from across the country.

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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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