SB3012: Deposit Security Act
- 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 provide for insurance for noninterest-bearing transaction accounts, and for other purposes.
Plain-language summary
This bill would change federal deposit insurance rules for certain bank accounts. Specifically, it would expand insurance coverage for noninterest-bearing transaction accounts—basic checking accounts that earn no interest. The bill amends the Federal Deposit Insurance Act, which is the law governing how the government protects depositors' money. The bill is currently introduced, meaning it has been formally submitted to Congress but has not yet been assigned to a for review.
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SB3012: Deposit Security Act