SB1572: Depositor Protection Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Federal Deposit Insurance Act to address transaction account guarantees, and for other purposes.
Plain-language summary
The Depositor Protection Act of 2023 would change how the Federal Deposit Insurance Corporation (FDIC) protects customer deposits at banks. The FDIC currently guarantees up to $250,000 per depositor per bank account. This bill aims to modify those guarantee rules, though specific details about what changes are proposed are not provided in the available information. The bill was introduced by Senator Bill Hagerty and is currently in the early stage of the legislative process.
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SB1572: Depositor Protection Act of 2023