Type:Proposed Rule
Citation:90 FR 12115
Reading Time:about 3 minutes
The Federal Deposit Insurance Corporation (FDIC) is withdrawing its proposed rules related to brokered deposit restrictions, corporate governance, and the Change in Bank Control Act. These proposals, published in 2023 and 2024, aimed to revise existing regulations but faced issues like being overly complex, conflicting with state laws, and potentially discouraging investments in banks. If the FDIC decides to take regulatory action on these matters in the future, it will announce new proposals.
Simple Explanation
The FDIC has decided not to continue with some new banking rules that might have been too confusing or made it hard for people to invest in banks; if they want to try again later, they'll come up with new ideas.