There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (10/03/2008)

Amends the Federal Deposit Insurance Act to increase the standard maximum amount of deposit insurance from $100,000 to: (1) $250,000, $500,000, $750,000, or $1 million, at the option of the insured depository institution; and (2) $250,000, $500,000, $750,000, or $1 million for eligible retirement accounts, at the institution's option. Requires an annual inflation adjustment.

Directs the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) Board to report to Congress and publish in the Federal Register any such inflation adjustments to the standard maximum deposit insurance amount and to the standard maximum share insurance amount.