Federal Deposit Insurance Corporation Adjustment Act

This bill would change how the Federal Deposit Insurance Corporation (FDIC) calculates the maximum amount of insurance coverage for bank deposits. It proposes a new formula that would automatically increase the coverage limit over time to keep pace with inflation.

For everyday citizens, this means the $100,000 protection on your bank accounts—the amount guaranteed by the government if a bank fails—would have been adjusted upward to maintain its purchasing power. While this bill was introduced in 2001 and did not become law, its goal was to ensure that the value of deposit insurance for savers did not erode as the cost of living increased.