Payroll Account Guarantee Act of 2023

Summary

Payroll Account Guarantee Act of 2023 This bill increases the amount of deposit insurance available to noninterest-bearing transaction accounts through the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA). Under current law, deposits are generally insured up to $250,000. Specifically, noninterest-bearing transaction accounts at smaller FDIC-insured depository institutions (i.e., those with less than $225 billion in assets) and at all NCUA-insured credit unions must be fully insured against losses. In addition, no fees may be levied against an institution or credit union for insurance under this bill.   

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Timeline

1. 20 July 2023

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 20 July 2023

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 20 July 2023 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 20 July 2023

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 20 July 2023

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 20 July 2023

  Open at official source

Sponsors

• Sen. Vance, J. D. [R-OH] · R · Sponsor
• · ssbk00 · Standing

Related records

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