Bills · HR 4551
IN COMMITTEE· 119TH CONGRESS
House BillHR 4551Finance and Financial Sector
Employee Paycheck and Small Business Protection Act
INTRO JUL 21· LAST ACTION JUL 21
READING
17MIN
COSPONSORS
0
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it aims to prevent widespread disruption during financial crises, particularly for small businesses and other organizations that rely on quick access to their funds for daily operations. If a bank were to fail, and a business had millions of dollars in an account for payroll, those funds might currently exceed the standard deposit insurance limit, putting employee paychecks and vendor payments at risk.
By ensuring that these crucial 'business payment accounts' are fully insured up to $100 million, the bill could help maintain economic stability, protect jobs, and ensure that businesses can continue to function even if their financial institution faces problems. Without this bill, a bank failure could cause more severe and widespread issues for businesses, their employees, and the broader economy, as payments for goods and services might be delayed or lost.
KEY PROVISIONS
3AI-extractedPROVISION 01
Establishes expanded deposit insurance coverage for 'covered transaction accounts' at banks and credit unions, up to $100,000,000 per depositor per institution.
This significantly increases the amount of government protection for business operating funds, far beyond the typical $250,000 limit.
PROVISION 02
Defines 'covered transaction accounts' as those held by businesses, non-profits, or municipalities, primarily for transactions like payroll and vendor payments, and that are non-interest bearing or pay very low interest.
This clarifies which specific types of accounts and organizations would benefit from the expanded insurance.
PROVISION 03
Requires the Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) to collect data and establish rules for these new insurance programs within 90 days of the bill becoming law.
This sets a timeline for the implementation of the expanded coverage and guides the agencies on factors to consider when designing the program.
SPONSORSHIP
1 + 0
D· California
YRS IN OFFICE
35
BILLS LED
44
ACTION TIMELINE
2 EVENTSJUL 21
Introduced in House
JUL 21
Referred to the Committee on Financial Services, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
BILL INFO
TypeHouse Bill
NumberHR 4551
Congress119th
StatusIn Committee
IntroducedJul 21, 2025
Last actionJul 21, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED JUL 21, 2025
House BillHR 4551Finance and Financial Sector
Employee Paycheck and Small Business Protection Act
INTRODUCED JUL 21, 2025· LAST ACTION JUL 21, 2025
PASSAGE CHANCES
—%
READING
17 min
COSPONSORS
0
COMPLEXITY
Moderate
