In CommitteeFiled Mar 25, 2026
Sponsor: Sen. Hagerty, Bill [R-TN] (R)
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 25, 2026
Summary
The Main Street Depositor Protection Act would require the FDIC to insure the total balances that a depositor holds in checking‑type accounts that earn no interest. The coverage limit would be at least the current standard insurance amount and could be as high as $5 million, with certain large or systemically important banks excluded. The change aims to protect everyday consumers and small businesses that keep most of their money in such accounts.
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