On July 30, 2024, the FDIC approved a notice of proposed rulemaking and request for comment to revise its regulation governing brokered deposits, which is promulgated pursuant to Section 29 of the Federal Deposit Insurance Act. The Proposed Rule would represent a significant departure from the current regulation governing brokered deposits that the FDIC adopted in 2020 and likely would increase significantly the amount of deposits that would be categorized and treated as “brokered deposits.”