Retire through Ownership Act

Senate Bill

S. 2403

119th Congress

Retire through Ownership Act

Held at the desk.

Introduced:Jul 23, 2025

Primary Sponsor

Roger Marshall

Senator

Republican

KS

Cosponsors

0

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would increase the amount of deposit insurance available through the FDIC and NCUA for noninterest-bearing transaction accounts, such as business payroll and operating accounts, at smaller banks and all credit unions. This means deposits in these accounts would be fully insured, providing more protection for people's money.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SponsorRoger Marshall (R-KS)

Introduced7/23/2025

StatusHeld at the desk.

ChamberSenate

Data from Congress.gov

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Vote Prediction

Retire through Ownership Act

This bill would increase the amount of deposit insurance available through the FDIC and NCUA for noninterest-bearing transaction accounts, such as business payroll and operating accounts, at smaller banks and all credit unions. This means deposits in these acc

Community Breakdown

Pass

0%

Fail

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0 predictions

This bill would increase the amount of deposit insurance available through the FDIC and NCUA for noninterest-bearing transaction accounts, such as business payroll and operating accounts, at smaller banks and all credit unions. This means deposits in these accounts would be fully insured, providing more protection for people's money.

Bill Number: 2403
Sponsor: Roger Marshall (R-KS)
Introduced: 7/23/2025
Status: Held at the desk.
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Retire through Ownership Act
Bill Number: 2403
Sponsor: Roger Marshall (R-KS)
Status: Held at the desk.
Introduced: 7/23/2025
Summary: This bill would increase the amount of deposit insurance available through the FDIC and NCUA for noninterest-bearing transaction accounts, such as business payroll and operating accounts, at smaller banks and all credit unions. This means deposits in these accounts would be fully insured, providing

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would increase the amount of deposit insurance available through the FDIC and NCUA for noninterest-bearing transaction accounts, such as business payroll and operating accounts, at smaller banks and all credit unions. This means deposits in these accounts would be fully insured, providing more protection for people's money.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Payroll Account Guarantee Act of 2023This bill increases the amount of deposit insurance available to noninterest-bearing transaction accounts through the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA). Under current law, deposits are generally insured up to $250,000.Specifically, noninterest-bearing transaction accounts at smaller FDIC-insured depository institutions (i.e., those with less than $225 billion in assets) and at all NCUA-insured credit unions must be fully insured against losses. In addition, no fees may be levied against an institution or credit union for insurance under this bill.

Key Points

Main provisions of the bill

Increases FDIC and NCUA deposit insurance coverage for noninterest-bearing transaction accounts at smaller banks (under $225 billion in assets) and all credit unions
Provides full insurance coverage for these accounts, instead of the current $250,000 limit
Prohibits fees from being charged to institutions or credit unions for this insurance coverage

How This Impacts Americans

Potential effects on citizens and communities

This bill would directly benefit small businesses, nonprofits, and other organizations that keep their day-to-day operating funds in noninterest-bearing accounts at community banks and credit unions. It would give them more confidence that their money is fully protected, even if their deposits exceed the current $250,000 insurance limit.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

2403, 119th Congress (2025). "Retire through Ownership Act". Source: Voter's Right Platform. https://votersright.org/bills/118-s-2403

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