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Protecting Business Accounts: Guaranteeing Noninterest-Bearing Deposits in Banking Crises.

This act aims to protect small businesses and the stability of the banking system. It allows the government to temporarily guarantee the full amount in noninterest-bearing transaction accounts, even above the standard insurance limit, in situations threatening the entire banking system. This is intended to prevent panic and loss of funds for businesses if a bank faces issues.
Key points
The government can temporarily guarantee all funds in noninterest-bearing business accounts to prevent a banking crisis.
Such a guarantee is only decided in exceptional circumstances when the stability of the entire banking system is at risk.
The guarantee can last for a maximum of 60 days and applies only to accounts that do not earn interest.
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Expired
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Additional Information
Print number: 118_HR_3243
Sponsor: Rep. Luetkemeyer, Blaine [R-MO-3]
Process start date: 2023-05-11
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Small Business Stability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3243.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-05-11.

What are the main provisions?

Key points include:

  • The government can temporarily guarantee all funds in noninterest-bearing business accounts to prevent a banking crisis.
  • Such a guarantee is only decided in exceptional circumstances when the stability of the entire banking system is at risk.
  • The guarantee can last for a maximum of 60 days and applies only to accounts that do not earn interest.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Luetkemeyer, Blaine [R-MO-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy