3928 -- Deposit Insurance Reform Act of 2023 | Poliscope

Deposit Insurance Reform Act of 2023

3928

118th Congress

Finance and Financial Sector

In Committee

Legislative Progress

✓

Introduced

Committee

Floor Vote

Other Chamber

Enacted

Introduced

June 7, 2023

Latest Action

June 7, 2023

Primary Sponsor

Adam B. SchiffDemocratic(CA)

Momentum (last 30 days)

score

0 actions · 0 new cosponsors · 0 votes

Speed vs cohort

0pct

0d open

vs 10,564 other HR bills in the 118th — cohort avg 68d

Summary

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.