November 22, 2024

Letter Opposing the FDIC’s Notice of Proposed Rulemaking Concerning Brokered Deposits

ICBA and more than 40 state banking association sent a letter to the FDIC expressing strong opposition to its Notice of Proposed Rulemaking concerning Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions.

The groups said the FDIC should not restrict community bank access to liquidity and noted that receiving a fee should not be a determining factor for whether a third party is a “deposit broker."