Main Street Depositor Protection Act

This bill, introduced in the Senate on March 25, 2026, would amend the Federal Deposit Insurance Act to provide deposit insurance for noninterest-bearing transaction accounts. Noninterest-bearing accounts are checking accounts and similar deposits that do not earn interest for account holders.

If enacted, this legislation could affect how bank deposits are protected by federal insurance. Currently, the Federal Deposit Insurance Corporation (FDIC) insures deposits up to certain limits. This bill would modify those protections specifically for noninterest-bearing transaction accounts, though the exact scope and limits of the proposed coverage changes are not detailed in the available information.

The bill is currently in the early stages of the legislative process, having been referred to committee for consideration. It has not yet been voted on by the full Senate. As standard legislation, it would require a presidential signature to become law if passed by both chambers of Congress.