S2999Referred to Committee

Main Street Depositor Protection Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-10-09
Introduced
1
Cosponsors
S
ⓘ
Type

Sponsor

Bill Hagerty
Bill Hagerty
Republican · TN · Senator
Votes with party: 33.1% (314 recorded votes)

Full profile: /officials/H000601

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Committee on Banking, Housing, and Urban Affairs. Hearings held.

2026-02-05

Source: Congress.gov

Committee Activity

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Previously

Plain-English Summary

This bill would protect deposits at smaller community banks and credit unions by ensuring that depositors' money is fully insured even if the bank fails, likely by expanding or clarifying federal deposit insurance coverage beyond current limits. The measure aims to help Main Street businesses and individuals who rely on local financial institutions feel more secure keeping their money in these banks rather than moving it to larger national banks. Community banks and their customers would be the primary beneficiaries of this protection.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Finance and Financial Sector
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