Banks participating in reciprocal deposit networks have new federal rules to follow after the Federal Deposit Insurance Corporation implemented changes Congress made to how certain deposits are treated under banking regulations. The FDIC’s interim final rule took effect September 1 and implements Section 902 of the 21st Century ROAD to Housing Act, which became law on July 11, 2026. The change primarily affects banks and their compliance teams rather than requiring customers to take immediate action. However, reciprocal deposits are an important tool that some banks use to help customers obtain FDIC insurance coverage for deposits exceeding the standard insurance limit at a single institution.
