# 119-s-4198: Main Street Depositor Protection Act

119-s-4198, Main Street Depositor Protection Act, is a 119th Congress bill sponsored by Sen. Hagerty, Bill [R-TN] (R-TN); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-4198
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4198
- Congress: 119
- Title: Main Street Depositor Protection Act
- Status: introduced
- Introduced: 2026-03-25
- Sponsor: Sen. Hagerty, Bill [R-TN] (R-TN)
- Cosponsors: 6
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**This bill would create expanded federal deposit insurance for noninterest-bearing transaction accounts** by adding a separate insured amount on top of the standard deposit limit. It would let the FDIC set that new cap, require a gradual 10-year ramp to full coverage, and mirror the change for credit unions.

## Cosponsors (6)

- Sen. Alsobrooks, Angela D. [D-MD] (D-MD), 2026-03-25T00:00:00.000Z
- Sen. Banks, Jim [R-IN] (R-IN), 2026-03-25T00:00:00.000Z
- Sen. Cortez Masto, Catherine [D-NV] (D-NV), 2026-03-25T00:00:00.000Z
- Sen. Hyde-Smith, Cindy [R-MS] (R-MS), 2026-03-25T00:00:00.000Z
- Sen. Gallego, Ruben [D-AZ] (D-AZ), 2026-03-25T00:00:00.000Z
- Sen. Wicker, Roger F. [R-MS] (R-MS), 2026-03-25T00:00:00.000Z

## Provisions PRIA read

- Extra insurance for certain checking accounts: mixed, high. If enacted, this bill would add extra federal insurance for qualifying noninterest-bearing transaction accounts. The additional amount would be added on top of the regular deposit insurance limit and set by an FDIC rule within six months. The FDIC rule must be at least the standard maximum deposit…

## Related bills

- 119-s-2296: National Defense Authorization Act for Fiscal Year 2026
- 119-s-4784: National Defense Authorization Act for Fiscal Year 2027
- 119-s-1748: Kids Online Safety Act
- 119-s-1404: Combating Organized Retail Crime Act
- 119-s-1467: Homebuyers Privacy Protection Act
- 119-s-1547: America the Beautiful Act

## Sources
- [119-s-4198 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4198)

## Related
- [119-s-2296: National Defense Authorization Act for Fiscal Year 2026](https://policyrisk.com/legislation/119-s-2296)
- [119-s-4784: National Defense Authorization Act for Fiscal Year 2027](https://policyrisk.com/legislation/119-s-4784)
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-1404: Combating Organized Retail Crime Act](https://policyrisk.com/legislation/119-s-1404)
- [119-s-1467: Homebuyers Privacy Protection Act](https://policyrisk.com/legislation/119-s-1467)
- [119-s-1547: America the Beautiful Act](https://policyrisk.com/legislation/119-s-1547)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4198 (as of 2026-04-21).