Are banks ready for the major deposit reforms that are coming?
Major deposit reforms are coming. There are currently three bills being considered in Congress and the Senate. They include The Keeping Deposits Local Act (H.R. 3234), The Main Street Depositor Protection Act (S. 2999), and The Community Bank Deposit Access Act (H.R. 5317). These three bills will change the way deposits are insured, transferred, and managed. This episode proposes five items that bank leadership should be considering: strategic assessment, scenario analysis, stakeholder engagement, economic impact, and implementation and guidance. This episode reviewed an article from Bank…
The skinny
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