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.

This bill would require the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) to study whether insurance coverage should be raised for certain business accounts. These accounts are payment accounts held by businesses, non-profits, local governments, or similar groups that pay no interest or only a very small amount. Each agency would collect data and analyze effects on the banking or credit union system, on institutions of different sizes, on safety and soundness, and on competition. They would also define these accounts and find ways to prevent other accounts from being labeled as them to get more coverage. The studies would be done between about one year and fifteen months after the law passes, and the data and analyses would be made public.

Full text and official record on Congress.gov

Sponsors

• Marlin A. Stutzman Republican sponsor
• 0 cosponsors