FDIC Accountability Act of 2016

FDIC Accountability Act of 2016

This bill amends the Federal Deposit Insurance Act to authorize the Federal Deposit Insurance Corporation (FDIC) to incur obligations or allow and pay expenses only pursuant to an appropriations Act, except for obligations or expenses that have either been:

• paid for with funds from the Deposit Insurance Fund; or
• incurred, allowed, or paid to implement the insurance function of the FDIC.

Any FDIC-collected fees that are not deposit insurance fees must be deposited and credited as offsetting collections to the account providing appropriations to the FDIC.