The Main Street Depositor Protection Act aims to provide deposit insurance for noninterest-bearing transaction accounts.

The Main Street Depositor Protection Act amends the Federal Deposit Insurance Act to provide deposit insurance for noninterest-bearing transaction accounts. The Federal Deposit Insurance Corporation (FDIC) will insure the net amount that any depositor maintains in such accounts at an insured depository institution. The National Credit Union Administration Board will insure the net amount that any member or person with funds lawfully held in a member account maintains in such accounts at an insured credit union.

The Main Street Depositor Protection Act aims to provide deposit insurance for noninterest-bearing transaction accounts.

The Main Street Depositor Protection Act amends the Federal Deposit Insurance Act to provide deposit insurance for noninterest-bearing transaction accounts. The Federal Deposit Insurance Corporation (FDIC) will insure the net amount that any depositor maintains in such accounts at an insured depository institution. The National Credit Union Administration Board will insure the net amount that any member or person with funds lawfully held in a member account maintains in such accounts at an insured credit union.