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119-hr-8090119th CongressWALLET

To require the Federal Deposit Insurance Corporation and the National Credit Union Administration to carry out an analysis to determine whether insurance coverage should be raised on covered transaction accounts, and for other purposes.

Sponsored By: Representative Stutzman, Marlin A. [R-IN-3]

Introduced

Summary

Study whether to raise federal insurance for business and other non-personal transaction accounts. The bill would require the FDIC and the National Credit Union Administration to run parallel, phased studies and to publish the underlying data and analysis.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Study on bank deposit insurance

This bill would require the FDIC Board to collect data and study whether the standard maximum deposit insurance amount should be higher for covered transaction accounts at banks. The FDIC would have to finish the study no earlier than the end of the 4th full calendar quarter after enactment and no later than the end of the 5th full calendar quarter after enactment. The study would define which bank accounts count as covered transaction accounts or transaction accounts, analyze economic effects on the banking system, safety and soundness, competition, and how to prevent mischaracterization. The FDIC would have to make the data and analyses publicly available.

Study on credit union share insurance

This bill would require the NCUA Board to collect data and study whether the standard maximum share insurance amount should be higher for covered transaction accounts at insured credit unions. The NCUA would have to finish the study no earlier than the end of the 4th full calendar quarter after enactment and no later than the end of the 5th full calendar quarter after enactment. The study would define which credit union accounts count as covered transaction accounts or transaction accounts, analyze effects on the credit union system, safety and soundness, competition, and how to prevent mischaracterization. The NCUA would have to publish the data and analyses publicly.

Sponsors & CoSponsors

Sponsor

Stutzman, Marlin A. [R-IN-3]

IN • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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