US HB4116 | 2015-2016 | 114th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on November 19 2015 - 25% progression, died in chamber
Action: 2016-09-27 - Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on November 19 2015 - 25% progression, died in chamber
Action: 2016-09-27 - Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Text: Latest bill text (Introduced) [PDF]
Summary
To amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes. This bill amends the Federal Deposit Insurance Act with respect to the prohibition declaring that an insured depository institution that is not well-capitalized may not accept funds obtained, directly or indirectly, by or through any deposit broker for deposit into one or more deposit accounts. Reciprocal deposits of an insured depository institution, however, shall not be considered to be prohibited broker deposits if: the composite condition of the institution at its most recent examination was adjudged either good or outstanding, or total reciprocal deposits of the institution do not exceed either $10 billion or 20% of its total liabilities.
Title
To amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.
Sponsors
Rep. Gwen Moore [D-WI] | Rep. Tom Emmer [R-MN] | Rep. Mick Mulvaney [R-SC] | Rep. Blaine Luetkemeyer [R-MO] |
Rep. Denny Heck [D-WA] | Rep. Emanuel Cleaver [D-MO] | Rep. Robert Pittenger [R-NC] | Rep. Steve Stivers [R-OH] |
Rep. Maxine Waters [D-CA] | Rep. Joyce Beatty [D-OH] | Rep. Ron Kind [D-WI] | Rep. Carolyn Maloney [D-NY] |
Sen. Kyrsten Sinema [I-AZ] | Rep. Bill Huizenga [R-MI] | Rep. Mark Pocan [D-WI] | Rep. Sean Duffy [R-WI] |
Rep. David Schweikert [R-AZ] | Rep. Mark Amodei [R-NV] |
History
Date | Chamber | Action |
---|---|---|
2016-09-27 | House | Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. |
2015-11-19 | House | Referred to the House Committee on Financial Services. |
2015-11-19 | House | Introduced in House |
Subjects
Bank accounts, deposits, capital
Banking and financial institutions regulation
Finance and financial sector
Banking and financial institutions regulation
Finance and financial sector
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/114th-congress/house-bill/4116/all-info |
Text | https://www.congress.gov/114/bills/hr4116/BILLS-114hr4116ih.pdf |