Main Street Depositor Protection Act
To amend the Federal Deposit Insurance Act to provide deposit insurance for noninterest-bearing transaction accounts, and for other purposes.
HB8087, also known as the Main Street Depositor Protection Act, aims to update the Federal Deposit Insurance Act. This update would extend deposit insurance to cover noninterest-bearing transaction accounts. This means that if a bank fails, depositors would still get their money back for these types of accounts.
This bill would affect individuals and small businesses who have savings or checking accounts at banks. It aims to give them more financial security by ensuring that their money is protected even if their bank encounters problems.
As of March 25, 2026, HB8087 was introduced in the House and referred to the House Committee on Financial Services. This is the first step in the legislative process. The bill is currently under review by the committee, which will evaluate its details and potential impact before deciding whether to move it forward for further debate and votes.
