Bill · H.R. 8087· House(119-HR-8087)
Main Street Depositor Protection Act
- Introduced
- 3/25/2026
- Last activity
- 3/25/2026 — Referred to the House Committee on Financial Services.
- Sponsored by
- Frank Lucas
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
The "Main Street Depositor Protection Act" amends the Federal Deposit Insurance Act and the Federal Credit Union Act to provide additional insurance for noninterest-bearing transaction accounts. It requires the Corporation to set a maximum insurance amount for these accounts, which must be at least the standard maximum deposit insurance amount and no more than $5,000,000. This additional coverage applies to both insured depository institutions and insured credit unions. However, certain institutions, such as branches of foreign banks and subsidiaries of global systemically important bank holding companies, are excluded from this specific insurance. The bill also outlines a 10-year transition period for implementing these changes and provides some assessment protections for smaller depository institutions.
Yes· 3 of 15
Would business owners be better off under this?+9
Directly benefits businesses that maintain large operating balances in noninterest-bearing transaction accounts.
Does this make it easier to run a small business?+7
Provides significantly higher deposit insurance for transaction accounts used by small businesses and protects smaller banks from specific assessment increases.
Would high-income households be better off under this?+6
Significant increase in insured limits for large noninterest-bearing accounts.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Deposit Protection: Depositors in noninterest-bearing transaction accounts can receive insurance beyond the standard maximum amount, up to a limit of $5,000,000 as determined by the Corporation. This is found in SEC. 2 (a)(1)(B)(ii)(II).
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Expanded Coverage for Credit Union Members: Members of insured credit unions will also have their noninterest-bearing transaction accounts insured up to the same maximum amount determined for depository institutions. This is found in SEC. 2 (b)(1)(ii).
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Support for Smaller Banks: Depository institutions with total assets of $10,000,000,000 or less are protected from paying certain special assessments or assessment increases specifically used to offset the impact of extending this new insurance. This is found in SEC. 2 (a)(3).
Potential Negative Impacts for People
- Limited Availability of Coverage: People who keep their money in insured branches of foreign banks or at depository institutions that are subsidiaries of global systemically important bank holding companies cannot benefit from this additional insurance. This is found in SEC. 2 (a)(1)(B)(ii)(IV)(bb).
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+9Good For Farmers+6Good For High Income Households+6Good For High Net Worth Individuals+5Good For Rural Residents+5Good For Middle Aged+4Good For Retirees+4Good For Seniors+4Good For Ultra High Net Worth Individuals+4Good For Billionaires+3Good For Middle Class Households+3
- Economy And Finance
- Improves Small Business Support+7Improves Consumer Protection+6Improves Economic Growth+3
- Governance And Ideology
- Increases Federal Power+2
- 3/25/2026
- Referred to the House Committee on Financial Services.
- Introduced in House
2 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.