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Financial Defense for Industrial Contractors Act or the FDIC Act This bill requires the Federal Deposit Insurance Corporation to begin proceedings for terminating the insured status of large depository institutions that deny banking services to federal contractors that otherwise qualify for such services.

Ensuring Diversity in Community Banking Act This bill establishes and revises provisions related to minority depository institutions, community development financial institutions, and impact banks. (Sec. 4) The bill expands the definition of minority depository institutions to include women-owned banks. It also establishes impact banks as depository institutions with total assets less than $10 billion and where a certain total dollar value of loans are extended to low-income borrowers. (Sec. 6) The bill creates Minority Depository Institutions Advisory Committees at the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. The committees must provide advice to their respective entities regarding preservation of the number and character of minority-owned institutions and the creation of new institutions. (Sec. 8) The bill establishes the Minority Bank Deposit Program to prioritize the use of minority depository institutions to hold the deposits of federal departments and agencies. (Sec. 10) The bill sets forth the threshold of controlling shares with respect to minority depository institutions and impact banks. It also allows new minority depository institutions and impact banks to take three years to meet initial capital requirements. (Sec. 12) The bill establishes a program allowing minority depository institutions and impact banks to apply to receive deposits from certain Treasury accounts. (Sec. 13) The Federal Deposit Insurance Corporation must evaluate certain applications for deposit insurance for eligibility as a community development financial institution. (Sec. 14) The Small Business Administration must establish a task force on lending to small business concerns by improving relationships with community development financial institutions, minority depository institutions, and impact banks. (Sec. 15) The bill also decreases, beginning September 30, 2030, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

This bill excludes certain affiliated broker-dealers that service retirement accounts and other similar plans from requirements applicable to brokered deposits.

Asset Growth Restriction Act of 2020 This bill repeals restrictions related to brokered deposits and provides for asset growth restrictions applicable to insured depository institutions. Brokered deposits are deposits made to an insured institution, such as a bank, through a third-party broker for investment purposes. Currently, only well-capitalized banks are allowed to solicit and accept brokered deposits, while institutions that are adequately capitalized may accept if granted a waiver. Undercapitalized banks are prohibited from accepting these deposits. The bill repeals these brokered deposit restrictions and directs the Federal Deposit Insurance Corporation to establish limits on growth of average total assets for less than well-capitalized institutions to maintain their safety and soundness.

This bill temporarily removes deposit insurance limits for transaction accounts at depository institutions and credit unions. The limits are reinstated January 1, 2022.

Independent and Community Bank Shareholders Protection Act This bill provides that shareholders of certain small financial institutions that are under conservatorship or receivership may file claims with the Federal Deposit Insurance Corporation for just compensation.

Minority Depository Institution and Community Bank Deposit Access Act of 2020 This bill specifies that certain custodial deposits at eligible institutions shall not be considered to be brokered deposits, which are subject to additional regulatory requirements, including those related to liquidity. The bill generally defines a custodial deposit as a deposit made by a certain entity serving as an agent, trustee, or custodian at an insured depository institution for the purpose of providing deposit insurance for the benefit of a third party. Among other requirements, the bill provides that an eligible institution includes small depository institutions, community development financial institutions, and minority depository institutions. Additionally, the bill specifies that only low-income credit unions and minority depository institutions that are federally insured credit unions are eligible for certain community development revolving loans.

Independent and Community Bank Shareholders Protection Act This bill provides that shareholders of certain small financial institutions that are under conservatorship or receivership may file claims with the Federal Deposit Insurance Corporation for just compensation.

Community Bank Deposit Access Act of 2019 This bill specifies that certain custodial deposits shall not be considered to be brokered deposits, which are subject to additional regulatory requirements, including those related to liquidity. The bill generally defines a custodial deposit as a deposit made by a certain entity serving as an agent, trustee, or custodian at an insured depository institution for the purpose of providing deposit insurance for the benefit of a third party.

This bill excludes from the definition of "deposit broker" an entity that is an exclusive agent of an insurance company and an affiliated depository institution. Deposit brokers place, or facilitate the placement of, deposits in a depository institution. Generally, under current law, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit. This bill excludes certain deposits from those restrictions.

Brokered Deposit Affiliate-Subsidiary Modernization Act of 2019 This bill excludes affiliates and subsidiaries of an insured depository institution from certain limitations applicable to brokered deposits. It also expands the definition of an employee of an insured depository institution, thereby exempting these individuals from treatment as a deposit broker.

Coronavirus Guidance for Financial Institutions Act This bill directs the Federal Reserve Board, the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration to report on the effectiveness of the joint release issued by federal and state financial regulators on March 9, 2020, encouraging financial institutions to meet the needs of customers affected by the coronavirus (i.e., the virus that causes COVID-19).

Cybersecurity and Financial System Resilience Act of 2019 This bill requires the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration to each annually report on efforts to strengthen cybersecurity measures with respect to its regulatory functions.

Options Market Stability Actof 2019 This bill directs the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency to jointly issue a final rule addressing the method of calculating the risk, for purposes of satisfying capital rules applicable to depository institutions and depository institution holding companies, of certain options cleared through a central counterparty.