US Congress House Bill 5660 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on July 7 2016 - 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]

Retail Checking Account Protection Act of 2016 This bill amends the Federal Deposit Insurance Act to provide that the stable retail deposits of an insured depository institution shall not be considered to be funds obtained by or through a deposit broker. Currently, stable retail deposits are considered brokered deposits. As a result, those deposits are subject to restrictions applicable to other brokered deposits, such as prohibitions on undercapitalized banks accepting brokered deposits. This bill would exclude stable retail deposits from those restrictions.

Retail Checking Account Protection Act of 2016

Rep. Roger Williams [R-TX]

Rep. Gwen Moore [D-WI]

Date	Chamber	Action
2016-09-27	House	Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
2016-07-07	House	Referred to the House Committee on Financial Services.
2016-07-07	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/5660/all-info
Text	https://www.congress.gov/114/bills/hr5660/BILLS-114hr5660ih.pdf