HR 3243
118th Congress
House
Finance and Financial Sector
Small Business Stability Act
Introduced: May 11, 2023
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 11, 2023
Referred to the House Committee on Financial Services.
May 11, 2023
Introduced in House
Plain-English summary
Small Business Stability Act
This bill allows the Federal Deposit Insurance Corporation (FDIC) to guarantee an insured depository institution's uninsured deposits in noninterest-bearing transaction accounts for a single period not to exceed 60 days without complying with requirements to minimize cost to the Deposit Insurance Fund. This authority requires (1) written recommendations from the FDIC board and the Board of Governors of the Federal Reserve System, and (2) a determination from the Department of the Treasury that this step would avoid or mitigate adverse effects on the stability of the banking system.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1
Cosponsors
1