An amendment consisting of several amendments offered en bloc to limit federal deposit insurance coverage for depositors to one account of up to $100,000 per person per institution and an additional $100,000 per person per institution for an IRA account. The amendment would eliminate FDIC coverage for multiple accounts of $100,000 in a single financial institution. The effective date of the amendment would be on January 1, 1995.

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Amendment Number
386
Description
An amendment consisting of several amendments offered en bloc to limit federal deposit insurance coverage for depositors to one account of up to $100,000 per person per institution and an additional $100,000 per person per institution for an IRA account. The amendment would eliminate FDIC coverage for multiple accounts of $100,000 in a single financial institution. The effective date of the amendment would be on January 1, 1995.
Purpose
Amendments en bloc sought to limit federal deposit insurance coverage to $100,000 on regular deposit accounts per person and an additional $100,000 per person per institution for an Individual Retirement Account.
Congress
102
Type
HAMDT
Latest Action Date
Nov 4, 1991
Latest Action Text
On agreeing to the Wylie amendments (A013) Failed by recorded vote: 153 - 264 (Roll no. 372).
Latest Action Time
17:02:22
Submitted Date
Nov 4, 1991
Chamber
House of Representatives
Update Date
Jun 7, 2021
Amendment 386 — Informed