To authorize the Secretary of the Treasury to direct the Federal Deposit Insurance Corporation and the National Credit Union Administration to establish emergency transaction account guarantee programs, and for other purposes.

This bill authorizes the Treasury Secretary to direct the FDIC and NCUA to create temporary emergency programs that fully insure non-interest-bearing transaction accounts at banks and credit unions during financial crises. The programs can only be activated if the Treasury determines a banking or credit union stress event is occurring that threatens economic stability, and they are limited to a maximum duration of nine months with strict cost caps and congressional oversight. If the programs incur losses, the FDIC and NCUA would recover those costs through special assessments on the institutions they insure. The bill also requires Treasury testimony to Congress within 30 days of program activation and a Government Accountability Office review within 90 days after the programs end.