118th Congress · HOUSE BILLBILL

H.R. 3928 — Deposit Insurance Reform Act of 2023

“To amend the Federal Deposit Insurance Act to permit an insured depository institution to elect to have a higher standard maximum deposit insurance amount applicable to commercial deposits of the institution and to require higher assessments of such an institution, to amend the Federal Credit Union Act to provide a similar program for insured credit unions, and for other purposes.”

Finance and financial sector

Introduced Jun 7, 2023

Last action Jun 7, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jun 7, 2023

Step 2

Referred

Jun 7, 2023

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

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.

Provisions · 3 sectionsIntroduced in House

Timeline · 2 actions

Jun 7, 2023

Introduced in House

Jun 7, 2023

Referred to the House Committee on Financial Services.