,i #aaith ,,congress #b;d ,session ,h4 ,r4 #hjij ,,in ,,the ,,house ,,of ,,representatives ,march #be1 #bjbf,mr4 ,stutzman introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to require the ,federal ,deposit ,insurance ,corporation and the ,national ,credit ,union ,administration to carry out an analysis to determine whether insurance coverage should be raised on covered transaction accounts1 and for other purposes4 #a4 ,study of insurance of covered transaction accounts 7a7 ,insured depository institutions 7#a7 ,analyses ,not earlier than the end of the #dth full calendar quarter beginning after the date of enactment of this ,act and not later than the end of the #eth full calendar quarter beginning after the date of enactment of this ,act1 the ,board of ,directors of the ,federal ,deposit ,insurance ,corporation shall-- 7,a7 collect data and carry out an analysis of covered transaction accounts to determine the extent to which a higher standard maximum deposit insurance amount should apply to such accounts2 7,b7 conduct an economic analysis of the impact on the banking system of a higher standard maximum deposit insurance amount for covered transaction accounts2 7,c7 determine the defining characteristics of covered transaction accounts and determine methods to prevent and reduce incentives of insured depository institutions and depositors to mischaracterize other types of deposit accounts as covered transaction accounts in order to obtain higher deposit insurance coverage2 7,d7 conduct an analysis of the distributional impact of higher deposit insurance assessments for covered transaction accounts on small1 medium1 and large insured depository institutions2 7,e7 conduct an analysis of the expected impact on the safety and soundness of insured depository institutions that have account holders with covered transaction accounts2 7,f7 conduct an analysis of the effect on competition in the ,u4,s4 banking sector of any increase in the standard maximum deposit insurance amount for covered transaction accounts2 and 7,g7 make the data and analyses described in subparagraphs 7,a7 through 7,f7 available to the public4 7#b7 ,definitions ,in this subsection3 7,a7 ,covered transaction account ,the term covered transaction account means a transaction account maintained at an insured depository institution-- 7i7 by a business1 non-profit1 municipality1 or similar organization2 and 7ii7 that-- 7,i7 is non-interest bearing2 or 7,,ii7 pays a de minimis amount of interest1 as established by the ,corporation4 7,b7 ,standard maximum deposit insurance amount ,the term standard maximum deposit insurance amount has the meaning given that term in section #aa7;a77#a77;,e7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahba7;a77#a77;,e774 7,c7 ,transaction account ,the term transaction account means a deposit or account from which the depositor or account holder is permitted to make transfers or withdrawals by negotiable or transferable instrument1 payment order of withdrawal1 telephone transfer1 or other similar device for the purpose of making payments or transfers to third persons or others or from which the depositor or account holder may make third party payments at an automated teller machine or a remote service unit1 or other electronic device1 including by debit card1 and includes such other deposits or accounts maintained at an insured depository institution that the ,corporation may determine consistent with this definition4 7,d7 ,additional banking terms ,the terms deposit and insured depository institution have the meaning given those terms1 respectively1 in section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 7b7 ,insured credit unions 7#a7 ,analyses ,not earlier than the end of the #dth full calendar quarter beginning after the date of enactment of this ,act and not later than the end of the #eth full calendar quarter beginning after the date of enactment of this ,act1 the ,national ,credit ,union ,administration ,board shall-- 7,a7 collect data and carry out an analysis of covered transaction accounts to determine the extent to which a higher standard maximum share insurance amount should apply to such accounts2 7,b7 conduct an economic analysis of the impact on the credit union system of a higher standard maximum share insurance amount for covered transaction accounts2 7,c7 determine the defining characteristics of covered transaction accounts and determine methods to prevent and reduce incentives of insured credit unions and credit union members to mischaracterize other types of deposit or share accounts as covered transaction accounts in order to obtain higher share insurance coverage2 7,d7 conduct an analysis of the distributional impact of higher share insurance assessments for covered transaction accounts on small1 medium1 and large insured credit unions2 7,e7 conduct an analysis of the expected impact on the safety and soundness of insured credit unions that have account holders with covered transaction accounts2 7,f7 conduct an analysis of the effect on competition in the ,u4,s4 credit union sector of any increase in the standard maximum share insurance amount for covered transaction accounts2 and 7,g7 make the data and analyses described in subparagraphs 7,a7 through 7,f7 available to the public4 7#b7 ,definitions ,in this subsection3 7,a7 ,covered transaction account ,the term covered transaction account means a transaction account maintained at an insured credit union-- 7i7 by a business1 non-profit1 municipality1 or similar organization2 and 7ii7 that-- 7,i7 does not pay a dividend2 or 7,,ii7 pays a de minimis dividend1 as established by the ,board4 7,b7 ,insured credit union ,the term insured credit union has the meaning given that term in section #aja of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #ageb74 7,c7 ,standard maximum share insurance amount ,the term standard maximum share insurance amount has the meaning given that term in section #bjg7k77#f7 of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #aghg7k77#f774 7,d7 ,transaction account ,the term transaction account means a deposit1 share1 or account from which the depositor or account holder is permitted to make transfers or withdrawals by negotiable or transferable instrument1 payment order of withdrawal1 telephone transfer1 or other similar device for the purpose of making payments or transfers to third persons or others or from which the depositor or account holder may make third party payments at an automated teller machine or a remote service unit1 or other electronic device1 including by debit card1 and includes such other deposits or accounts maintained at an insured credit union that the ,board may determine consistent with this definition4