US HB907 | 2019-2020 | 116th Congress
Status
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2019-01-30 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2019-01-30 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Excludes from the definition of "deposit broker" an entity that is an exclusive agent of an insurance company and an affiliated depository institution. Deposit brokers place, or facilitate the placement of, deposits in a depository institution. Generally, under current law, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit. excludes certain deposits from those restrictions.
Title
To clarify exclusions from the definition of a deposit broker.
Sponsors
| Rep. Darin LaHood [R-IL] | Rep. Cheri Bustos [D-IL] | Rep. Rodney Davis [R-IL] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-01-30 | House | Referred to the House Committee on Financial Services. |
| 2019-01-30 | House | Introduced in House |
Subjects
Bank accounts, deposits, capital
Banking and financial institutions regulation
Finance and financial sector
Insurance industry and regulation
Banking and financial institutions regulation
Finance and financial sector
Insurance industry and regulation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/907/all-info |
| Text | https://www.congress.gov/116/bills/hr907/BILLS-116hr907ih.pdf |
