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HR 5845 118th Congress House Finance and Financial Sector Advisory bodies Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Federal Deposit Insurance Corporation (FDIC) Government studies and investigations

Depositor Protection Act of 2023

Introduced: November 7, 2023 Introduced by: Kustoff, David Republican · Tennessee See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 29, 2023
Introduced in House
Sep 29, 2023
Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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 Plain-English summary Congressional Research Service

Depositor Protection Act of 2023

This bill expands Federal Deposit Insurance Corporation (FDIC) protections and the actions the FDIC is allowed to take, including in the event of an institutional failure.

First, the bill expands for two years FDIC deposit insurance for an amount up to $100,000,000 that a depositor maintains at an insured depository institution in a noninterest-bearing transaction account. (Currently, the FDIC insures deposits up to $250,000.)

The bill also increases the reciprocal deposit limit applicable to depository institutions. (Reciprocal deposits are used by institutions to increase the availability of deposit insurance by splitting large deposits using a reciprocal network of institutions.)

For 90 days after the date of enactment, the bill allows for the acquisition of distressed banks by a bank holding company without regulatory approval under certain circumstances.

The bill also allows the FDIC to facilitate a merger, sale, assumption of liabilities, or stock acquisition involving the failure of a large institution using an adjusted least-cost resolution calculation.

What's happening now September 29, 2023

Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Related & companion bills 1
  • S 1572 Identical bill Depositor Protection Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1
R
Houchin, Erin
Indiana · Nov 7, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5845: Depositor Protection Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-HR-5845/
MLA
"H.R. 5845: Depositor Protection Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-5845/.
Bluebook (legal)
H.R. 5845, 118th Cong. (2026), https://openamerica.io/bill/118-HR-5845/.
Markdown link
[H.R. 5845: Depositor Protection Act of 2023](https://openamerica.io/bill/118-HR-5845/)
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