Main Street Depositor Protection Act
Committee hearing: it can still change before the session ends.
- Stage
- Committee hearing
- Started in
- Senate
- Sponsors
- 2
- Latest action
- Feb 5, 2026
What it does
The Main Street Depositor Protection Act would amend the Federal Deposit Insurance Act and the Federal Credit Union Act to provide deposit insurance coverage of up to $10 million for noninterest-bearing transaction accounts held by individuals at insured depository institutions and credit unions. It defines such accounts as those where no interest is accrued or paid, withdrawals can be made via negotiable instruments or electronic transfers for payments to third parties, and the institution does not require advance notice for withdrawals. The bill includes a 10-year transition period during which the FDIC and NCUA will gradually phase in full insurance coverage for these accounts, while…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.