S. 3637: A bill to temporarily extend the transaction account guarantee program, and for other purposes.

112th Congress · introduced 2012-11-26 · Finance and Financial Sector · Latest: Motion by Senator Reid to commit to Senate Committee on Banking, Housing, and Urban Affairs with instructions to report back forthwith with amendment SA 3316 fell when the bill was committed in Senate. (consideration: CR S8001)

federal

Follow this bill, step by step

Where it came from: introduced 2012-11-26 · official record
Who proposed it: Sen. Reid, Harry [D-NV] · what a sponsor is
What happened next: 2 recorded votes in our records. Latest: Senate vote 227 (2012): On the Motion, S3637 (2012-12-13), Motion Rejected. See all
Where it stands now: Motion by Senator Reid to commit to Senate Committee on Banking, Housing, and Urban Affairs with instructions to report back forthwith with amendment SA 3316 fell when the bill was committed in Senate. (consideration: CR S8001) Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

A bill to temporarily extend the transaction account guarantee program, and for other purposes.

Plain summary

Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to extend through December 31, 2014, the transaction account guarantee program (TAG) established by the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide unlimited deposit insurance for noninterest-bearing transaction accounts (NIBTAs). Cites January 1, 2015, as the effective date upon which the net amount of insured deposit due to a depositor at an insured depository institution reverts to the standard statutory maximum ($250,000) for deposit insurance. Requires the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA), to fully offset, in each calendar year, any estimated losses that may occur to the Deposit Insurance Fund and to the National Credit Union Share Insurance Fund, respectively, as a result of this Act by: (1) estimating the losses, if any, that are expected to occur for each calendar year; and (2) collecting an amount equal to such estimated losses by September 30 of the calendar year, in addition to the assessments that would otherwise be collected by either the FDIC or the NCUA with respect to such year for insured depository institutions.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

A bill to temporarily extend the transaction account guarantee program, and for other purposes.

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Reid, Harry [D-NV] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Recorded votes

Senate vote 225 (2012): On Cloture on the Motion to Proceed, S3637 (2012-12-11): Cloture on the Motion to Proceed Agreed to
Senate vote 227 (2012): On the Motion, S3637 (2012-12-13): Motion Rejected

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Statute: A written law passed by a legislature. A statute can be changed by a later law; changing a constitution needs an amendment.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s3637.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>

Record fed-us-cong112-s3637 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112