{"database": "press", "table": "releases", "rows": [["http://www.warren.senate.gov/newsroom/press-releases/senator-warren-criticizes-fdic-rule-on-brokered-deposits", "Senator Warren Criticizes FDIC Rule on Brokered Deposits", "2020-12-16", "2020", "2020-12", "Democrat", "Senate", "MA", "Elizabeth Warren", "W000817", "www.warren.senate.gov", null, null, "legacy", "December 16, 2020\n\t\t\t Senator Warren Criticizes FDIC Rule on Brokered Deposits \n\t\t\t\n\t\t\t\t\n\t\n\t\n\t\n\t\n\t \n\t\n\t\n\t\t\t\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\n        \n\t\t\t\t Final rule guts critical protections meant to safeguard the financial system; Warren calls on FDIC Board to focus on maintaining financial stability and keeping consumers' bank accounts safe amidst this ongoing pandemic\n\t\t\t\n\t\t\t Washington, DC - United States Senator Elizabeth Warren\r\n(D-Mass.), a member of the Senate Committee on Banking, Housing, and Urban\r\nAffairs, today released the following statement criticizing the Federal Deposit\r\nInsurance Corporation (FDIC) for issuing a final rule on brokered deposits that\r\nposes serious risk to the financial system: \"Following a multi-year effort to weaken key safety and soundness rules\r\nput in place after the 2008 financial crisis, Trump-appointed regulators have\r\nnow gutted decades-old restrictions on certain banks' ability to accept\r\nbrokered deposits, opening up the floodgates for banks to rely on this risky\r\nsource of funding even though FDIC research\r\nshows that they are correlated with higher risks of bank failures. Instead of\r\nundermining these critical protections at the behest of the banking industry,\r\nthe FDIC Board should focus on maintaining financial stability and keeping\r\nconsumers' bank accounts safe amidst this ongoing pandemic.\" Deposits are considered \"brokered\" when they are placed through a\r\nthird-party rather than directly by individuals and businesses. Restrictions on\r\nthe types of banks that can accept these deposits were put in place after the\r\n1980s Savings and Loan Crisis during which banks' reliance on these unstable\r\ndeposits contributed to distress in the financial system. The FDIC's final rule\r\nwill significantly limit the scope of these restrictions. ###\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\n\t  \n\n\t\n\t\n\t\n\t\n\t \n\t\t\n\t\t\tPrint\n\t\t\n\t\t\n\t\t\t\n\t\t\tEmail\n\t\t\n\t\t\n\t\t\t\n\t\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\tTweet\n\t\t\t\n\t\t\n\t \n\t\n\t\n\n\t\n\t\n\t\n\t\n\t\n    \n\t\n\t\n    \n    \n    \n    \t\n    \t\n\t    \t  \n\t\t    \n\t\t    \n\t\t    \tPrevious Article", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["http://www.warren.senate.gov/newsroom/press-releases/senator-warren-criticizes-fdic-rule-on-brokered-deposits"], "units": {}, "query_ms": 2.7127619832754135, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}