Growing Deposit Insurance for the Future Act
Sponsored By: Representative Meuser
Introduced
Summary
Would change how the federal deposit insurance inflation adjustment is calculated by setting a new baseline and trigger date. It would move the base year to 2030, replace a fixed $100,000 baseline with the statute's standard maximum deposit insurance amount, and make the enactment date the trigger for inflation adjustments.
Show full summary
- Depositors: Would change which funds are treated as insured by replacing the fixed $100,000 benchmark with the standard maximum deposit insurance amount described in statute before adjustments. This affects households and businesses with deposits near that threshold.
- Banks and financial institutions: Would alter how uninsured deposit exposure is measured and planned for by shifting the base year to 2030 and changing the reference point for inflation indexing.
- FDIC and regulators: Would base the start of the inflation-adjustment mechanism on the bill's date of enactment rather than the date set in the 2005 reform, changing the legal reference used for future calculations.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Changes to deposit insurance rules
This bill would stop using a fixed $100,000 number for some FDIC insurance calculations. It would use the statute's standard maximum deposit insurance amount as the pre-adjustment baseline and would take effect upon enactment. The bill would also change the inflation-adjustment base year from 2010 to 2030 and make the timing start on the date of enactment. If enacted, these changes would alter when and how insured limits are adjusted and could raise coverage for some account holders.
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Sponsors & CoSponsors
Sponsor
Meuser
PA • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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