Bill · H.R. 4551· House(119-HR-4551)
Employee Paycheck and Small Business Protection Act
- Introduced
- 7/21/2025
- Last activity
- 7/21/2025 — Referred to the Committee on Financial Services, and in addition to the Committee on Rules, 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.
- Sponsored by
- Maxine Waters
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
The Employee Paycheck and Small Business Protection Act aims to amend the Federal Deposit Insurance Act and the Federal Credit Union Act. It seeks to expand deposit and share insurance to cover specific business payment accounts for businesses, non-profits, and municipalities. Additionally, the bill authorizes a temporary transaction account guarantee program to preserve financial stability. This program would involve full insurance of net deposits in covered transaction accounts for specific periods. The legislation includes requirements for data collection, analysis, and specific rulemaking processes by the FDIC and NCUA.
Yes· 3 of 10
Would business owners be better off under this?+8
The act provides massive insurance coverage for business transaction accounts to ensure payroll and vendor payments.
Does this make it easier to run a small business?+7
The expansion of insurance coverage up to $100 million helps businesses ensure they can meet payroll and vendor obligations.
Is this likely to grow the economy?+5
The bill promotes financial stability which can bolster economic growth by protecting business liquidity.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Expanded Insurance for Business Accounts: The bill would allow the Corporation to fully insure deposits in covered transaction accounts up to $100,000,000 per depositor per institution (Section 2, a, 1, A and B). This could benefit businesses, non-profits, and municipalities that use accounts primarily for transactions like payroll and vendor payments (Section 2, a, 1, D).
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Financial Stability and Safety: The establishment of a temporary transaction account guarantee program is intended to address situations where a failure to act would have serious adverse effects on financial stability or economic conditions (Section 3, a, 2; Section 3, b, 1).
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Support for Diverse Institutions: In establishing insurance requirements, the bill directs officials to consider promoting a competitive market that includes minority depository institutions, rural institutions, and community development financial institutions (Section 2, c, 2, C).
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Ensuring Timely Payments: The bill aims to ensure that holders of covered transaction accounts can meet their obligations, such as payroll and vendor payments, in a timely fashion (Section 2, c, 2, D).
Potential Negative Impacts for People
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Potential Assessment Costs: To fund the temporary transaction account guarantee program, the Corporation and the Board may establish assessments on insured depository institutions and insured credit unions (Section 3, a, 4, A; Section 3, b, 3, A).
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Limited Scope of Coverage: Under the expanded insurance provisions, the "covered transaction account" is defined as one that is non-interest bearing or pays interest materially below prevailing market rates (Section 2, a, 1, D, iii; Section 2, b, 1, B, D, iii).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+8Good For African Americans+4Good For Rural Residents+4
- Economy And Finance
- Improves Small Business Support+7Improves Economic Growth+5Improves Consumer Protection+3
- Governance And Ideology
- Increases Federal Power+3Improves Government Transparency+2
- Environment Energy And Infrastructure
- Improves Rural Development+4
- Social Issues And Justice
- Improves Racial Equity+4
- 7/21/2025
- Referred to the Committee on Financial Services, and in addition to the Committee on Rules, 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.
- Introduced in House