FDIC extends comment period on brokered deposit restrictions

The FDIC extended by 60 days the public comment period for its proposed rule to modernize its brokered deposit regulations for less-than-well-capitalized banks. The new comment deadline is June 9.

ICBA last week called on regulators to delay all non-coronavirus-related rulemakings and comment period deadlines for at least 180 days. In addition to the brokered deposit proposal, ICBA cited outstanding rulemakings on reforming Community Reinvestment Act rules, credit union oversight, and more.