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US FDIC proposes to flip Trump-era brokered-deposit rule said to contribute to 2023 regional bank failures

By Neil Roland ( July 30, 2024, 23:59 GMT | Insight) -- The US Federal Deposit Insurance Corporation proposed, along partisan lines, a reversal of a Trump administration brokered-deposit rule said to have contributed to the Spring 2023 regional banking failures and risks posed by nonbank Synapse’s bankruptcy in April 2024. The American Bankers Association said the “sweeping” measure would “restrict access to sources of liquidity while penalizing banks for pursuing funding sources that enable them to meet the needs of their communities.”The US Federal Deposit Insurance Corporation proposed, along partisan lines, a reversal of a Trump administration brokered-deposit rule said to have contributed to the Spring 2023 regional banking failures and risks posed by nonbank Synapse’s bankruptcy in April 2024....

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