Corporate Finance

The Federal Deposit Insurance Corporation (FDIC) recently amended the Brokered Deposit Rule in order to clarify the deposit broker definition while simultaneously incorporating several previous FDIC staff interpretations. The new rule became effective on April 1, 2021 with a phase in for certain provisions to be completed as of January 1, 2022. The rule change clarified both the definition of a “Deposit Broker” as well as making clear rules for exceptions to the definition. The…