,,ii  #aahth ,,congress  #ast ,session  
,s4 #cjab  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,october #d1   
#bjbc,mr4 ,manchin 7for himself1 ,mr4   
,braun1 and ,mr4 ,hickenlooper7         
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,banking1 ,housing1 and   
,urban ,affairs  ,a ,,bill  ,to amend   
the ,federal ,deposit ,insurance ,act to
 provide for insurance for              
noninterest-bearing transaction         
accounts1 and for other purposes4  #a4  
,short title ,this ,act may be cited as 
the ,deposit ,security ,act4  #b4       
,insurance of transaction accounts  7a7 
,banks and savings associations ,section
 #aa7;a77#a7 of the ,federal ,deposit   
,insurance ,act 7#ab ,u4,s4,c4          
#ahba7;a77#a77 is amended-- 7#a7 in     
subparagraph 7,b7-- 7,a7 by striking    
,the net amount and inserting the       
following3  7i7 ,in general ,subject to 
clause 7ii71 the net amount  2 and  7,b7
 by adding at the end the following new 

clauses3  7ii7 ,insurance for           
noninterest-bearing transaction accounts
 ,notwithstanding clause 7i71 the       
,corporation shall insure the net amount
 that any depositor at an insured       
depository institution maintains in a   
noninterest-bearing transaction account 
in an amount not more than #aj1jjj1jjj4 
,such amount shall not be taken into    
account when computing the net amount   
due to such depositor under clause 7i74 
7iii7 ,opt-out and opt-in  7,i7 ,opt-out
 ,an insured depository institution may 
opt out of the insurance described in   
clause 7ii7 during the #cj-;day period  
beginning on the date on which the      
program is established4  7,,ii7 ,opt-in 
,an insured depository institution that 
opts out under subclause 7,i7 may opt   
into the program every #e years4  7iv7  
,noninterest-bearing transaction account
 defined ,for purposes of this          
subparagraph1 the term                  
noninterest-bearing transaction account 
means a deposit or account maintained at

 an insured depository institution--    
7,i7 with respect to which interest is  
neither accrued nor paid2  7,,ii7 on    
which the depositor or account holder is
 permitted to make withdrawals by       
negotiable or transferable instrument1  
payment orders of withdrawal1 telephone 
or other electronic media transfers1 or 
other similar items for the purpose of  
making payments or transfers to third   
parties or others2 and  7,,iii7 on which
 the insured depository institution does
 not reserve the right to require       
advance notice of an intended           
withdrawal4  2 and  7#b7 in subparagraph
 7,c71 by striking subparagraph 7,b7 and
 inserting subparagraph 7,b77i74  7b7   
,credit unions ,section #bjg7k77#a7 of  
the ,federal ,credit ,union ,act 7#ab   
,u4,s4,c4 #aghg7k77#a77 is amended--    
7#a7 in subparagraph 7,a7-- 7,a7 by     
striking ,subject to the provisions of  
paragraph 7#b71 the net amount and      
inserting the following3  7i7 ,net      
amount of insurance payable ,subject to 

clause 7ii7 and the provisions of       
paragraph 7#b71 the net amount  2 and   
7,b7 by adding at the end the following 
new clauses3  7ii7 ,insurance for       
noninterest-bearing transaction accounts
 ,notwithstanding clause 7i71 the ,board
 shall fully insure the net amount that 
any member or depositor at an insured   
credit union maintains in a             
noninterest-bearing transaction account 
in an amount not more than #aj1jjj1jjj4 
,such amount shall not be taken into    
account when computing the net amount   
due to such member or depositor under   
clause 7i74  7iii7 ,opt-out and opt-in  
7,i7 ,opt-out ,an insured credit union  
may opt out of the insurance described  
in clause 7ii7 during the #cj-;day      
period beginning on the date on which   
the program is established4  7,,ii7     
,opt-in ,an insured credit union that   
opts out under subclause 7,i7 may opt   
into the program every #e years4  7iv7  
,noninterest-bearing transaction account
 defined ,for purposes of this          

subparagraph1 the term                  
noninterest-bearing transaction account 
means an account or deposit maintained  
at an insured credit union-- 7,i7 with  
respect to which interest is neither    
accrued nor paid2  7,,ii7 on which the  
account holder or depositor is permitted
 to make withdrawals by negotiable or   
transferable instrument1 payment orders 
of withdrawal1 telephone or other       
electronic media transfers1 or other    
similar items for the purpose of making 
payments or transfers to third parties  
or others2 and  7,,iii7 on which the    
insured credit union does not reserve   
the right to require advance notice of  
an intended withdrawal4  2 and  7#b7 in 
subparagraph 7,b71 by striking          
subparagraph 7,a7 and inserting         
subparagraph 7,a77i74  #c4 ,inflation   
adjustment of deposit insurance limit   
,section #aa7;a77#a7 of the ,federal    
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahba7;a77#a77 is amended by striking   
subparagraph 7,f7 and inserting the     

following3  7,f7 ,inflation adjustment  
,the ,board of ,directors and the       
,national ,credit ,union ,administration
 ,board shall jointly prescribe the     
amount by which the standard maximum    
deposit insurance amount and the        
standard maximum share insurance amount 
7as defined in section #bjg7k7 of the   
,federal ,credit ,union ,act7 applicable
 to any depositor at an insured         
depository institution shall be adjusted
 on ,january #a once during every       
#b-year period to reflect the percentage
 increase1 if any1 from the preceding   
fiscal year in the ,consumer ,price     
,index ,for ,all ,urban ,consumers1     
published by the ,bureau of ,labor      
,statistics of the ,department of       
,labor74  4