H.R. 3234: Keeping Deposits Local Act

H.R. 3234 is a federal bill in the 119th Congress. Local banks will be able to hold more reciprocal deposits, which are arrangements where banks place customer deposits into a network to ensure they remain fully insured by the federal government, without those funds being classified as brokered deposits… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.