Main Street Depositor Protection Act
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill expands deposit and share insurance up to $10 million for certain noninterest-bearing transaction accounts, phases the expanded coverage into insurance calculations, and exempts smaller institutions from certain. It relies on compliance mandates and exemptions. The main policy areas are Finance and Banking.
Who Benefits and How
Depositors with large noninterest-bearing transaction accounts at community banks and credit unions could face reduced risk and Smaller banks and credit unions that may attract large operating-account balances could gain revenue opportunities.
Who Bears the Burden and How
FDIC and NCUA officials administering the expanded insurance regime would take on compliance duties.
Key Provisions
- Expands deposit and share insurance up to $10 million for certain noninterest-bearing transaction accounts, phases the expanded coverage into insurance calculations, and exempts smaller institutions from certain...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill expands deposit and share insurance up to $10 million for certain noninterest-bearing transaction accounts, phases the expanded coverage into insurance calculations, and exempts smaller institutions from certain.
Key Policy Areas
Finance, Banking
Primary Purpose
The bill expands deposit and share insurance up to $10 million for certain noninterest-bearing transaction accounts, phases the expanded coverage into insurance calculations, and exempts smaller institutions from certain.
Policy Domains
Sections 1-2 - Expanded insurance for noninterest-bearing transaction accounts
Identified Gains
- Depositors with large noninterest-bearing transaction accounts at community banks and credit unions
- Smaller banks and credit unions that may attract large operating-account balances
Identified Costs
- FDIC and NCUA officials administering the expanded insurance regime
Sponsors
Legislative Progress
In CommitteeCommittee on Banking, Housing, and Urban Affairs. Hearings held.
Mr. Hagerty (for himself and Ms. Alsobrooks) introduced the following …
Read twice and referred to the Committee on Banking, Housing, …
Introduced in Senate
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Depositors with large noninterest-bearing transaction accounts at community banks and credit unions, Smaller banks and credit unions that may attract large operating-account balances
FDIC and NCUA officials administering the expanded insurance regime
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_board"
- → National Credit Union Administration Board
- "the_corporation"
- → Federal Deposit Insurance Corporation
Key Definitions
Terms defined in this bill
A deposit or account on which no interest is paid and from which the depositor may make payments or transfers to third parties by negotiable instrument, electronic transfer, or similar means.
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology