Browsing: Brokered deposits

Newsbytes

Current laws and regulation related to brokered deposits—which were enacted three decades ago—are in “urgent need of modernization to ensure that banks are not prohibited from holding stable funding, engaging in modern business practices or serving the needs of their customers,” ABA wrote in a letter today to Rep. Gregory Meeks (D-N.Y.), who chairs the House Financial Services Subcommittee on Consumer Protection and Financial Institutions.

Economy

The American Bankers Association joined a group of 51 state bankers associations in a letter to FDIC Chairman Jelena McWilliams today voicing concerns that the national rate cap—which is intended to prevent struggling banks from offering excessively high rates—is being used as a proxy for volatile deposits in examinations of healthy banks.

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