House Bill 6380 - To temporarily provide for Federal insurance of transaction accounts during the COVID-19 emergency.

Purpose and Summary

Chamber: House

Introduced date: 2020-03-24

Recent Activity

Referred to the House Committee on Financial Services.

Alternative Names

To temporarily provide for Federal insurance of transaction accounts during the COVID-19 emergency.

To temporarily provide for Federal insurance of transaction accounts during the COVID-19 emergency.

Associated Legislation

Workforce Emergency Response Act of 2020

Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act

Policy Areas

Finance and Financial Sector

Potential Impact

Bank accounts, deposits, capital

Banking and financial institutions regulation

Sponsors and Supporters

Rep. Green, Al [D-TX-9]

Cosponsors and Supporters

Rep. Garcia, Sylvia R. [D-TX-29]

Rep. Meeks, Gregory W. [D-NY-5]

Rep. Cleaver, Emanuel [D-MO-5]

Rep. Beatty, Joyce [D-OH-3]

Rep. Waters, Maxine [D-CA-43]

Committees and Subcommittees

Financial Services Committee

Variations and Revisions

To temporarily provide for Federal insurance of transaction accounts during the COVID-19 emergency.

2/8/2022, 11:17 PM

This bill temporarily removes deposit insurance limits for transaction accounts at depository institutions and credit unions. The limits are reinstated January 1, 2022.

Congress
116
Number
HR - 6380
Introduced on
2020-03-24
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

3/24/2020
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

This bill temporarily removes deposit insurance limits for transaction accounts at depository institutions and credit unions. The limits are reinstated January 1, 2022.

Alternative Names
Official Title as IntroducedTo temporarily provide for Federal insurance of transaction accounts during the COVID-19 emergency.
Policy Areas
Finance and Financial Sector
Potential Impact
Bank accounts, deposits, capital•
Banking and financial institutions regulation

Comments

Recent Activity

Latest Summary6/1/2020

This bill temporarily removes deposit insurance limits for transaction accounts at depository institutions and credit unions. The limits are reinstated January 1, 2022.

Latest Action3/24/2020
Referred to the House Committee on Financial Services.