Section 1 Short title
This Act may be cited as the “Growing Deposit Insurance for the Future Act”.
Growing Deposit Insurance for the Future Act
A BILL
To amend the Federal Deposit Insurance Act to update the inflation adjustment applicable to deposit insurance and share insurance.
Sec. 2 Insurance inflation adjustment
Section 11(a)(1)(F)(i) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(F)(i)) is amended—
by striking “2010” and inserting “2030”;
in subclause (I), by striking “$100,000” and inserting “the standard maximum deposit insurance amount described in subparagraph (E), before any adjustment as provided under this subparagraph”; and
in subclause (II), by striking “the date this subparagraph takes effect under the Federal Deposit Insurance Reform Act of 2005” and inserting “the date of enactment of the Growing Deposit Insurance for the Future Act”.