Senate Bill 3111
116th Congress(2019-2020)
Brokered Deposit Affiliate-Subsidiary Modernization Act of 2019
Introduced
Introduced in Senate on Dec 19, 2019
Origin Chamber
Senate
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
3111
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.
No Senate votes have been held for this bill.
Summary
Brokered Deposit Affiliate-Subsidiary Modernization Act of 2019
This bill excludes affiliates and subsidiaries of an insured depository institution from certain limitations applicable to brokered deposits. It also expands the definition of an employee of an insured depository institution, thereby exempting these individuals from treatment as a deposit broker.
December 19, 2019
12/19/2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
12/19/2019
Introduced in Senate
Public Record
Record Updated
Oct 28, 2022 1:46:13 AM