US HB4551

FDIC and NCUA would fully insure business payment accounts (used for payroll, vendor payments, and operational transactions) up to $100,000,000 per depositor per institution, covering accounts held by businesses, non-profits, and municipalities that are non-interest bearing or pay below-market rates

Agencies must collect data within 90 days of enactment and issue final rules within 30 months establishing eligibility requirements and insurance amounts, with mandatory congressional testimony and GAO review if deadlines are missed

Creates a Temporary Transaction Account Guarantee Program allowing unlimited deposit insurance for up to 180 days during financial crises, triggered by two-thirds votes from FDIC/NCUA boards and the Federal Reserve, plus Treasury Secretary approval

Program extensions beyond 270 days require congressional approval through a joint resolution, with mandatory testimony from agency heads within 45 days of implementation

Existing Deposit Insurance Fund and National Credit Union Share Insurance Fund restoration plans would be extended by 8 years from the effective date of final rules to accommodate increased insurance obligations