summary
Introduced
06/29/2017
06/29/2017
In Committee
06/29/2017
06/29/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Keeping Capital Local for Underserved Communities Act of 2017
AI Summary
This bill, the Keeping Capital Local for Underserved Communities Act of 2017, amends the Federal Deposit Insurance Act to create a limited exception allowing insured depository institutions to accept "reciprocal deposits" (deposits placed through a network of banks) without those deposits being considered as funds obtained through a deposit broker. The bill sets a $10 billion or 20% of total liabilities limit on the amount of reciprocal deposits that can be excluded. It also restricts the interest rates that covered institutions (those accepting brokered deposits or reciprocal deposits while not well-capitalized) can pay on such deposits.
Committee Categories
Housing and Urban Affairs
Sponsors (12)
Mark Warner (D)*,
John Boozman (R),
Shelley Moore Capito (R),
Heidi Heitkamp (D),
Dean Heller (R),
Bob Menendez (D),
Jerry Moran (R),
David Perdue (R),
Mike Rounds (R),
Tim Scott (R),
Jon Tester (D),
Chris Van Hollen (D),
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 06/29/2017)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/senate-bill/1500/all-info |
| BillText | https://www.congress.gov/115/bills/s1500/BILLS-115s1500is.pdf |
| Bill | https://www.congress.gov/115/bills/s1500/BILLS-115s1500is.pdf.pdf |
Loading...