HR 4384
Community Bank Deposit Access Act of 2019
Take action
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Community Bank Deposit Access Act of 2019, aims to reduce regulatory burdens on certain banks by clarifying the definition of ‘custodial deposits.’ It exempts deposits made by eligible banks for the purpose of providing deposit insurance for third parties from being considered ‘funds obtained by or through a deposit broker,’ up to a specified limit. The bill also restricts interest rates paid on these deposits to prevent excessive compensation for accepting them, particularly for institutions that haven’t met certain capital requirements.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Charlie Crist
Cosponsor
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.