HR 3928 · 118th Congress · Finance and Financial Sector

Deposit Insurance Reform Act of 2023

Introduced 2023-06-07· Sponsored by Rep. Schiff, Adam B. [D-CA-30]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Financial Services.(2023-06-07)

Plain Language Summary

[AI summary unavailable — showing source text] Deposit Insurance Reform Act of 2023 This bill requires the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) to establish additional levels of deposit insurance. Currently, the FDIC and NCUA insures individual accounts up to $250,000. Under the bill, FDIC and NCUA must establish insurance amounts above existing levels that are applicable to commercial deposits. An institution may elect to apply a higher insurance amount to commercial deposits.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Rep. Payne, Donald M., Jr. [D-NJ-10]NJ