Introduced: Sponsor: Sen. Cory Booker [D-NJ]
This bill was referred to the Senate Committee on Banking, Housing, and Urban Affairs which will consider it before sending it to the Senate floor for consideration.
1 cosponsor is on that committee.
Introduced: Sponsor: Sen. John Kennedy [R-LA]
This bill was referred to the Senate Committee on Homeland Security and Governmental Affairs which will consider it before sending it to the Senate floor for consideration.
Are VA Loans subject to the federal Garn-St. Germain Depository Institutions Act of 1982 (12 U.S.C. 1701j-3)?
Thank you in advance for you comments.
According to the linked page on the U.S. Federal Reserve's website, banks are no longer required to hold enough money in reserve to cover shortfalls in case of a bank run or other sudden withdrawal event. I'm also including a link that explains the reserve requirement system and its importance.
https://www.federalreserve.gov/monetarypolicy/reservereq.htm https://www.thebalance.com/reserve-requirement-3305883
Reddit doesn't allow in-line pictures, so please see https://money.stackexchange.com/q/115104/44213?
I use Depository Institutions for referring to banks and credit unions. E.g., Meridian Credit Union requires only a password.
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Inasmuch as I know, HSBC Canada's the only bank that requires them.
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Why don't others? At least offer them as an option?
Did these acts cause the 2008 crash, I’ve heard from some it did?
