To amend the Federal Deposit Insurance Act the amount of deposits insured under that Act.

Summary

Amends the Federal Deposit Insurance Act to: (1) increase from $100,000 to $300,000 the maximum amount of deposit insurance for accounts insured by the Federal Deposit Insurance Corporation (FDIC); and (2) require the FDIC to adjust premiums for deposit insurance based on solvency of the Deposit Insurance Fund (DIF) to ensure that the Fund is funded by premiums from insured depository institutions, and not by taxpayer revenues. Repeals the cap on the maximum amount of deposit insurance for deposits in an insured depository institution made in connection with specified kinds of retirement accounts, including individual retirement accounts (IRAs).

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 September 2008

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• Introduced in House (PDF)

  Introduced in House · EN · 29 September 2008

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 29 September 2008

  Open at official source

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