Title 15 — Commerce and TradeRelease 119-73

§9047 Federal credit union transaction account guarantees

Title 15 › Chapter CHAPTER 116— - CORONAVIRUS ECONOMIC STABILIZATION (CARES ACT) › Subchapter SUBCHAPTER III— - ECONOMIC STABILIZATION AND ASSISTANCE TO SEVERELY DISTRESSED SECTORS OF THE UNITED STATES ECONOMY › Part Part A— - Coronavirus Economic Stabilization › § 9047

Last updated Apr 6, 2026|Official source

Summary

Even if other laws say otherwise, the National Credit Union Administration Board can work with the Federal Deposit Insurance Corporation and vote to raise the National Credit Union Share Insurance Fund’s coverage for any noninterest-bearing transaction account at any federally insured credit union to unlimited protection or to a lower amount the Board chooses. Any increase must end by December 31, 2020.

Full Legal Text

Title 15, §9047

Commerce and Trade — Source: USLM XML via OLRC

Notwithstanding any other provision of law and in coordination with the Federal Deposit Insurance Corporation, the National Credit Union Administration Board may by a vote of the Board increase to unlimited, or such lower amount as the Board approves, the share insurance coverage provided by the National Credit Union Share Insurance Fund on any noninterest-bearing transaction account in any federally insured credit union without exception, provided that any such increase shall terminate not later than December 31, 2020.

Reference

Citations & Metadata

Citation

15 U.S.C. § 9047

Title 15 — Commerce and Trade

Last Updated

Apr 6, 2026

Release point: 119-73