HB5845: Depositor Protection Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Federal Deposit Insurance Act to address transaction account guarantees, and for other purposes.
Plain-language summary
This bill proposes changes to federal rules protecting customer deposits at banks and credit unions. The Federal Deposit Insurance Act currently guarantees deposits up to $250,000 per account. The bill specifically addresses how transaction accounts—checking and similar accounts used for daily payments—receive deposit insurance protection. The measure was introduced in the House and is currently awaiting review. Specific are not detailed in available information.
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HB5845: Depositor Protection Act of 2023