{
  "id": "RS21987",
  "type": "CRS Report",
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  "number": "RS21987",
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  "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department",
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      "id": 350440,
      "date": "2009-07-07",
      "retrieved": "2016-04-07T02:23:28.349560",
      "title": "When Financial Businesses Fail: Protection\u00a0for\u00a0Account Holders",
      "summary": "After the onset of the current financial crisis and economic contraction, the 111th Congress increased some of the long-standing provisions that protect account holders from risk. Specifically, provisions in the Emergency Economic Stabilization Act of 2008 (EESA; P.L. 110-343) and the Helping Families Save Their Homes Act of 2009 (HFSTHA; P.L. 111-22) increased account holders\u2019 protection. Both laws raised the maximum deposit account insurance to $250,000, and the HFSTHA extended the higher level of risk protection until 2013.\nLawmakers have long recognized the importance of protecting some forms of financial savings from risk. Such provisions apply to deposits in banks and thrift institutions and credit union \u201cshares.\u201d Remedial and other safety net features also cover insurance contracts, certain securities accounts, and even defined-benefit pensions. Questions over how to fund and guarantee Social Security, along with the troubles of the Pension Benefit Guaranty Corporation, have renewed interest in these arrangements.\nThis report portrays the salient features and legislation of account protection provided by the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Share Insurance Fund (NCUSIF), state insurance guaranty funds, the Securities Investor Protection Corporation, and the Pension Benefit Guaranty Corporation. It provides a discussion of the FDIC\u2019s Temporary Liquidity Guarantee Program (TLG) , which extends unlimited temporary deposit guarantees to certain depositors and debt held in insured depository institutions. Overall, the report provides a summary of the major federal risk protections for account holders.\nThis report will be updated as appropriate.",
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc821016/",
      "id": "RS21987_2008Nov20",
      "date": "2008-11-20",
      "retrieved": "2016-03-19T13:57:26",
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc822127/",
      "id": "RS21987_2008Feb29",
      "date": "2008-02-29",
      "retrieved": "2016-03-19T13:57:26",
      "title": "When Financial Businesses Fail: Protection for Account Holders",
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc810631/",
      "id": "RS21987_2006Oct26",
      "date": "2006-10-26",
      "retrieved": "2016-03-19T13:57:26",
      "title": "When Financial Businesses Fail: Protection for Account Holders",
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  "topics": [
    "Domestic Social Policy"
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}