Bill Sponsor
House Bill 907
116th Congress(2019-2020)
To clarify exclusions from the definition of a deposit broker.
Introduced
Introduced
Introduced in House on Jan 30, 2019
Overview
Text
Introduced
Jan 30, 2019
Latest Action
Jan 30, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
907
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Republican
Illinois
Democrat
Illinois
Republican
Illinois
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

This bill 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. This bill excludes certain deposits from those restrictions.

Text (1)
January 30, 2019
Actions (2)
01/30/2019
Referred to the House Committee on Financial Services.
01/30/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 3:17:48 PM