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.

Summary

The bill directs the Federal Deposit Insurance Corporation and the National Credit Union Administration to analyze if the standard insurance coverage for certain business, nonprofit and municipal transaction accounts should be increased. It orders them to examine economic effects, safety, competition, distributional impacts, and ways to prevent misuse, and to make the results public. The purpose is to decide whether higher insurance limits would benefit banks, credit unions and their customers.

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