ABA Calls for Legislative Fix to Brokered Deposit Rules
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.