Summary: S.3108 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.3108. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (12/19/2019)

Consumer Transaction Account Protection Act of 2019

This bill specifies that consumer transaction account deposits of an insured depository institution shall not be considered to be funds obtained through a deposit broker. In general, current law prohibits an insured depository institution that is not well capitalized from accepting funds obtained through a deposit broker for deposit.