S 2999
Main Street Depositor Protection Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 7:54 AM
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Main Street Depositor Protection Act expands federal deposit insurance to include noninterest-bearing transaction accounts held at banks and credit unions. Currently, deposit insurance primarily covers interest-bearing accounts. This bill would allow depositors to be insured up to $10,000,000 in these accounts, with certain exclusions for large financial institutions and branches of foreign banks. The legislation also establishes a transition period for gradually increasing the scope of insurance coverage over a 10-year period.
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