The Main Street Depositor Protection Act amends the Federal Deposit Insurance Act to include noninterest-bearing transaction accounts in the.
The Main Street Depositor Protection Act amends the Federal Deposit Insurance Act to include noninterest-bearing transaction accounts in the determination of insured deposits. It mandates the Federal Deposit Insurance Corporation and the National Credit Union Administration Board to insure these accounts, up to a limit of $10,000,000. The bill also requires the Federal Deposit Insurance Corporation to publish a plan for gradually increasing the portion of insured deposits in these accounts over a 10-year period.
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- Core Provisions
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- Impact
- Legal Framework
- Critical Issues
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