Bill raises federal coverage limit to $750,000 per person.
H.R. 10821 — To amend the Federal Deposit Insurance Act to make changes to the Standard Maximum Deposit Insurance Amount, and for other purposes. · Filed by Josh Gottheimer (D-NJ) · Introduced Oct 15, 2026 · Referred to committee
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What it does
The bill raises the coverage limit from $250,000 to $750,000 per person per bank. This change takes effect 180 days after the bill becomes law. The limit will rise each year based on inflation. The FDIC and NCUA must study if $750,000 is right. They must report back within one year.
Who it affects
People with savings between $250,000 and $750,000 get more protection. Banks benefit because savers are more likely to keep money with them. The FDIC fund may face bigger costs.
One thing to notice
The bill raises the coverage limit three times higher than before. The limit will rise each year without Congress voting again.
From the analysis of the bill text, linked under Primary records below.
Where it stands
- Oct 15, 2026 — Introduced · Congress.gov: “Introduced in House”
- Oct 15, 2026 — Referred to House Committee on Financial Services · Congress.gov: “Referred to the House Committee on Financial Services”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- coverage — Federal promise to pay back a person's money if their bank fails.
- FDIC — Federal Deposit Insurance Corporation; the agency that covers bank savings.
- NCUA — National Credit Union Administration; the agency that covers credit union savings.
- inflation — When prices for goods and services go up over time.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (3,084 characters) on Oct 16, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-10-20.
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