Easier Deposit Access for Small and Minority Banks.
New rules make it easier for small banks and minority-serving financial institutions to attract deposits, potentially increasing their stability and lending capacity. Citizens may benefit from more banking choices and better access to financial services, especially in local communities.
Key points
Small and minority depository institutions can more easily accept deposits from brokers, boosting their liquidity.
Interest rate limits are set for brokered deposits to protect bank stability.
The revolving loan fund for credit unions will now be available to low-income and minority depository credit unions.
These changes may support local community development through improved access to financing.
Expired
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