The House passed a pair of bills Wednesday aimed at loosening restrictions on bank deposits, sending the Senate standalone versions of language from its housing package.
The chamber passed, 393-16, a bill (
Custodial deposits are treated as brokered deposits, and subject to additional regulations, under current law. The bill would explicitly exempt custodial deposits from being considered brokered if the total amount of the funds in question doesn’t exceed 20% of the bank’s liabilities and the bank meets certain other requirements. ...