Jump to Content
ABA: The American Bankers Association
Press Release

ABA Statement on Brokered Deposit and National Rate Cap Rule

WASHINGTON — The American Bankers Association welcomes the FDIC Board’s vote today to modernize brokered deposit and the national rate cap regulations.

“Today’s final FDIC rule is an important step that recognizes that markets have evolved, and new technologies have changed the ways banks gather deposits and the ways bank customers access and manage their funds,” said Rob Nichols, ABA president and CEO. “We thank FDIC Chairman McWilliams for her leadership on this critical issue and echo her call for Congress to revisit Section 29 of the FDI Act, and to consider whether it still achieves the policy goals it was enacted to accomplish.”

###

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.5 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $18 trillion in deposits and extend nearly $11 trillion in loans.

Press Contact

Ian McKendry

(202) 663-5473

Contact Ian
Useful Links

Resources for the Media

Media Contacts

All inquiries from the press can be directed to one of our press contacts.

ABA Expert Photos

Hi-Res photos for use by the press.

ABA Media Appearances

Getting the industry's message out – in print and on the air – about banks' health and lending, as well as policies that are harmful to economic recovery.

Media Credentials

Complimentary press registrations are available for select events.

Join Our Media Lists

Want to be added to our news release list? Sign up here.

RSS Feed

Get ABA press releases via RSS.