Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Summary
The Main Street Depositor Protection Act adds insurance coverage for checking‑type accounts that earn no interest, letting depositors keep more of their money safe at banks and credit unions. Coverage is capped at $5 million per depositor and does not apply to certain large global banks or foreign‑bank branches. The law phases the new coverage in over ten years and limits extra fees for smaller institutions.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
Topics
Share
Writing about this bill? Add a live status widget to your site or newsletter. It updates as the bill moves.
Track this bill
Get an email when S 4198 moves: committee action, floor votes, amendments and hearings. Free, no card.
Track S 4198 freeOr ask your AI assistant about S 4198 directly:
Add to Claude, ChatGPT or Cursor