[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8090 Introduced in House (IH)]
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119th CONGRESS
2d Session
H. R. 8090
To require the Federal Deposit Insurance Corporation and the National
Credit Union Administration to carry out an analysis to determine
whether insurance coverage should be raised on covered transaction
accounts, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
March 25, 2026
Mr. Stutzman introduced the following bill; which was referred to the
Committee on Financial Services
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A BILL
To require the Federal Deposit Insurance Corporation and the National
Credit Union Administration to carry out an analysis to determine
whether insurance coverage should be raised on covered transaction
accounts, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. STUDY OF INSURANCE OF COVERED TRANSACTION ACCOUNTS.
(a) Insured Depository Institutions.--
(1) Analyses.--Not earlier than the end of the 4th full
calendar quarter beginning after the date of enactment of this
Act and not later than the end of the 5th full calendar quarter
beginning after the date of enactment of this Act, the Board of
Directors of the Federal Deposit Insurance Corporation shall--
(A) collect data and carry out an analysis of
covered transaction accounts to determine the extent to
which a higher standard maximum deposit insurance
amount should apply to such accounts;
(B) conduct an economic analysis of the impact on
the banking system of a higher standard maximum deposit
insurance amount for covered transaction accounts;
(C) determine the defining characteristics of
covered transaction accounts and determine methods to
prevent and reduce incentives of insured depository
institutions and depositors to mischaracterize other
types of deposit accounts as covered transaction
accounts in order to obtain higher deposit insurance
coverage;
(D) conduct an analysis of the distributional
impact of higher deposit insurance assessments for
covered transaction accounts on small, medium, and
large insured depository institutions;
(E) conduct an analysis of the expected impact on
the safety and soundness of insured depository
institutions that have account holders with covered
transaction accounts;
(F) conduct an analysis of the effect on
competition in the U.S. banking sector of any increase
in the standard maximum deposit insurance amount for
covered transaction accounts; and
(G) make the data and analyses described in
subparagraphs (A) through (F) available to the public.
(2) Definitions.--In this subsection:
(A) Covered transaction account.--The term
``covered transaction account'' means a transaction
account maintained at an insured depository
institution--
(i) by a business, non-profit,
municipality, or similar organization; and
(ii) that--
(I) is non-interest bearing; or
(II) pays a de minimis amount of
interest, as established by the
Corporation.
(B) Standard maximum deposit insurance amount.--The
term ``standard maximum deposit insurance amount'' has
the meaning given that term in section 11(a)(1)(E) of
the Federal Deposit Insurance Act (12 U.S.C.
1821(a)(1)(E)).
(C) Transaction account.--The term ``transaction
account'' means a deposit or account from which the
depositor or account holder is permitted to make
transfers or withdrawals by negotiable or transferable
instrument, payment order of withdrawal, telephone
transfer, or other similar device for the purpose of
making payments or transfers to third persons or others
or from which the depositor or account holder may make
third party payments at an automated teller machine or
a remote service unit, or other electronic device,
including by debit card, and includes such other
deposits or accounts maintained at an insured
depository institution that the Corporation may
determine consistent with this definition.
(D) Additional banking terms.--The terms
``deposit'' and ``insured depository institution'' have
the meaning given those terms, respectively, in section
3 of the Federal Deposit Insurance Act (12 U.S.C.
1813).
(b) Insured Credit Unions.--
(1) Analyses.--Not earlier than the end of the 4th full
calendar quarter beginning after the date of enactment of this
Act and not later than the end of the 5th full calendar quarter
beginning after the date of enactment of this Act, the National
Credit Union Administration Board shall--
(A) collect data and carry out an analysis of
covered transaction accounts to determine the extent to
which a higher standard maximum share insurance amount
should apply to such accounts;
(B) conduct an economic analysis of the impact on
the credit union system of a higher standard maximum
share insurance amount for covered transaction
accounts;
(C) determine the defining characteristics of
covered transaction accounts and determine methods to
prevent and reduce incentives of insured credit unions
and credit union members to mischaracterize other types
of deposit or share accounts as covered transaction
accounts in order to obtain higher share insurance
coverage;
(D) conduct an analysis of the distributional
impact of higher share insurance assessments for
covered transaction accounts on small, medium, and
large insured credit unions;
(E) conduct an analysis of the expected impact on
the safety and soundness of insured credit unions that
have account holders with covered transaction accounts;
(F) conduct an analysis of the effect on
competition in the U.S. credit union sector of any
increase in the standard maximum share insurance amount
for covered transaction accounts; and
(G) make the data and analyses described in
subparagraphs (A) through (F) available to the public.
(2) Definitions.--In this subsection:
(A) Covered transaction account.--The term
``covered transaction account'' means a transaction
account maintained at an insured credit union--
(i) by a business, non-profit,
municipality, or similar organization; and
(ii) that--
(I) does not pay a dividend; or
(II) pays a de minimis dividend, as
established by the Board.
(B) Insured credit union.--The term ``insured
credit union'' has the meaning given that term in
section 101 of the Federal Credit Union Act (12 U.S.C.
1752).
(C) Standard maximum share insurance amount.--The
term ``standard maximum share insurance amount'' has
the meaning given that term in section 207(k)(6) of the
Federal Credit Union Act (12 U.S.C. 1787(k)(6)).
(D) Transaction account.--The term ``transaction
account'' means a deposit, share, or account from which
the depositor or account holder is permitted to make
transfers or withdrawals by negotiable or transferable
instrument, payment order of withdrawal, telephone
transfer, or other similar device for the purpose of
making payments or transfers to third persons or others
or from which the depositor or account holder may make
third party payments at an automated teller machine or
a remote service unit, or other electronic device,
including by debit card, and includes such other
deposits or accounts maintained at an insured credit
union that the Board may determine consistent with this
definition.
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