Last week, BPI submitted to the FDIC a comment letter in response to the agency’s notice of proposed rulemaking on brokered deposits. In its letter, BPI recommended revisions to the definition of “deposit broker” to make it more effective over the long term; the exception for agents or nominees whose primary purpose is not the placement of deposits; and the exception for insured depository institutions. The letter also requested several clarifications to the brokered deposit framework.
You Might Also Be Interested In...
Bank Activities and Structure Financial Services Industry United in Opposition to Marshall-Durbin Credit Routing Legislation
Bank Activities and Structure The FDIC’s Proposed Increase in Deposit Insurance Assessments May Be Based On Incorrect Projections
Bank Activities and Structure Quality Patents Coalition Express Key Priorities for Patent Reform Legislation in Letter to Congress
Industrial Loan Company Bank, Credit Union and Consumer Groups Support Committee Vote to Close the Industrial Loan Company Loophole
More Posts by This Author
Digital Assets BPI Comments on Treasury Department Review of Digital Assets in Response to Executive Order
Community Reinvestment Act BPI Comments on Federal Banking Agencies’ Community Reinvestment Act Proposal
Bank Liquidity The Bank of England Just Released Its Plan for Getting Smaller. The Fed Could Learn from it.