Shutdown Fairness Act

Senate Bill

S. 3012

119th Congress

Shutdown Fairness Act

Upon reconsideration, cloture on the motion to proceed to the measure not invoked in Senate by Yea-N

Introduced:Oct 15, 2025

Primary Sponsor

Ron Johnson

Senator

Republican

WI

Cosponsors

2

Quick Stats

Policy Area

Finance and Financial Sector

Summary

The Shutdown Fairness Act would increase the amount of deposit insurance available for noninterest-bearing transaction accounts from $250,000 to $10 million. This would protect people's savings and allow them to access their money even if their bank or credit union has financial problems.

Latest Action

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

AI Summary

Plain-English explanation of this bill

The Shutdown Fairness Act would increase the amount of deposit insurance available for noninterest-bearing transaction accounts from $250,000 to $10 million. This would protect people's savings and allow them to access their money even if their bank or credit union has financial problems.

Last updated: 12/29/2025

Official Summary

Congressional Research Service summary

Deposit Security ActThis 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 FDIC-insured depository institutions and at NCUA-insured credit unions must be insured up to $10 million. However, an institution or credit union may opt-out of this insurance during the 30-day period beginning on the date the program starts.In addition, the maximum deposit insurance amount must be adjusted for inflation every two years.

Key Points

Main provisions of the bill

Increases FDIC and NCUA deposit insurance for noninterest-bearing transaction accounts from $250,000 to $10 million
Allows banks and credit unions to opt-out of the higher insurance coverage during the first 30 days
Requires the maximum deposit insurance amount to be adjusted for inflation every two years

How This Impacts Americans

Potential effects on citizens and communities

This bill would provide much greater financial security for individuals and small businesses that rely on checking accounts and other transaction accounts to manage their day-to-day finances. It would ensure they can access their money even if their financial institution faces difficulties, helping to prevent disruptions during an economic downturn or bank failure.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

3012, 119th Congress (2025). "Shutdown Fairness Act". Source: Voter's Right Platform. https://votersright.org/bills/118-s-3012