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.
The FDIC is in the process of developing guidance for financial institutions on artificial intelligence…
In a comment letter to the FDIC today, ABA advocated for updates to the agency’s…
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.
The FDIC has “ample existing authority” to address the regulation of brokered deposits, according to a legal analysis by law firm Jones Day commissioned by ABA.
In a move long sought by ABA, the FDIC today issued an advanced notice of proposed rulemaking on brokered deposits and the national rate cap. ABA has been actively engaged with the FDIC on the need to revise the regulations so that they accommodate modern banking and don’t discourage healthy banks from gathering deposits. Written over
In an American Banker op-ed today, the American Bankers Association called on Congress and the FDIC to reconsider existing brokered deposits rules and regulations and modernize them so that consumers can continue interacting their bank in the manner of their choosing.
In a comment letter to the FDIC today, the American Bankers Association offered support for a recent proposal to implement Section 202 of S. 2155, the new regulatory reform law.
The House Financial Services Committee today approved several financial services bills, including two supported by the American Bankers Association.v
The FDIC today issued a request for comment on a proposed rule to implement Section 202 of S. 2155, the new regulatory reform law.