Extends federal insurance to protect up to an extra $10 million in checking accounts.
This bill would extend federal insurance to protect up to an extra $10 million in noninterest-bearing transaction accounts at most banks and credit unions. This means people and businesses would have more of their transaction account funds covered by the government, separate from the standard $250,000 insurance. It aims to provide greater security for larger balances held in accounts used for everyday transactions.
Today, federal insurance covers up to $250,000 per person, per institution, per ownership category for all account types, including noninterest-bearing checking accounts. After this bill, most noninterest-bearing checking accounts would get an additional $10,000,000 in federal insurance, separate from the standard $250,000 coverage. This means a total of $10,250,000 could be insured in such accounts at most institutions.
S 2999 · 119th Congress · October 9, 2025 · AI Summary by gemini-2.5-flash · 8/10
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16 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.