Josh Gottheimer (D-NJ)
To amend the Federal Deposit Insurance Act to make changes to the Standard Maximum Deposit Insurance Amount, and for other purposes.
A Democratic bill with no cosponsors
Last activity — Referred to the House Committee on Financial Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill proposes changes to the Federal Deposit Insurance Act regarding the Standard Maximum Deposit Insurance Amount. It raises the standard deposit insurance amount from $250,000 to $750,000. The bill also establishes a new Consumer Price Index adjustment to change this dollar figure every year starting on January 1. Additionally, the legislation requires the Federal Deposit Insurance Corporation and the National Credit Union Administration to jointly conduct a study and submit a report to Congress within one year. This report must determine the appropriate amount for the standard maximum deposit insurance and look at factors like asset amounts and the effects on the Deposit Insurance Fund. The changes to the deposit insurance amount will take effect 180 days after the date of enactment.
Yes· 3 of 8
- Scored +5
Would high-income households be better off under this?
High-income households with larger cash deposits benefit directly from the raised insurance limit up to $750,000.
- Scored +5
Would business owners be better off under this?
Business owners holding higher operating cash balances in banks receive increased deposit protection.
- Scored +5
Would people with substantial wealth be better off under this?
Individuals with substantial cash assets benefit from the higher coverage cap and automatic inflation adjustments.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Higher Insurance Coverage: Under Section 1(a)(1)(A), the bill increases the standard maximum deposit insurance amount from $250,000 to $750,000. This is positive because it provides people with a much higher level of protection for their money kept in financial institutions.
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Automatic Adjustments for Inflation: Under Section 1(a)(2), the bill requires yearly adjustments to the deposit insurance amount based on the Consumer Price Index for All Urban Consumers. This is a positive benefit as it helps ensure the insurance coverage keeps pace with inflation over time.
Potential Negative Impacts for People
Based on the provided text, there are no explicitly stated negative impacts or burdens for individuals or groups of people resulting from the specific provisions of the bill.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would business owners be better off under this? — Business owners holding higher operating cash balances in banks receive increased deposit protection. Would high-income households be better off under this? — High-income households with larger cash deposits benefit directly from the raised insurance limit up to $750,000. Would people with substantial wealth be better off under this? — Individuals with substantial cash assets benefit from the higher coverage cap and automatic inflation adjustments. Would middle-income households be better off under this? — Increasing the deposit insurance cap protects middle-class savings exceeding the previous $250,000 limit. Would retired people be better off under this? — Retirees with accumulated savings benefit from expanded federal deposit insurance protection. Would people over 65 be better off under this? — Higher deposit insurance limits provide greater financial security for individuals, including retirees holding larger cash savings.
- Economy And Finance
- Does this give people more protection from unfair business practices? — The bill increases the standard maximum deposit insurance amount from $250,000 to $750,000, offering greater protection to depositors.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The legislation requires a joint study and report by the FDIC and NCUA to Congress regarding appropriate deposit insurance amounts and fund effects.
- 10/15/2026
- Referred to the House Committee on Financial Services.
- Introduced in House