On December 12, 2019, the FDIC approved a notice of proposed rulemaking and request for comment to revise its regulations on brokered deposits promulgated pursuant to Section 29 of the Federal Deposit Insurance Act. The NPR “would create a new framework for analyzing certain provisions of the ‘deposit broker’ definition, including ‘facilitating’ and ‘primary purpose.’” The NPR would also expand, through an application and reporting process, the availability of the “primary purpose” exception beyond what the FDIC has historically permitted.