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HR 5051
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Youth Depositor Protection Act

H. R. 5051 To amend the Federal Deposit Insurance Act to prohibit insured depository institutions from imposing any fees with respect to certain deposits of rolled coins by individuals who are not more than 16 years of age.

Introduced Sep 19, 1994

Latest action (Oct 6, 1994) Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.

Referred to
Financial Services Committee Diversity and Inclusion Subcommittee
Policy area
Finance and Financial Sector
Issues
Economy & Taxes

Summary

This bill amends the Federal Deposit Insurance Act to prohibit insured depository institutions from charging fees when individuals age 16 or younger deposit rolled United States coins into accounts at those institutions.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)

Actions (4)
  1. Oct 6, 1994 Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance. · house
  2. Oct 6, 1994 Referred to the Subcommittee on Consumer Credit and Insurance. · house
  3. Sep 19, 1994 Referred to the House Committee on Banking, Finance + Urban Affrs. · house
  4. Sep 19, 1994 Introduced in House

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • HR 4557 — Policyholder Protection Act of 2014 · Introduced May 20, 2014 · Cong. 113 70%
  • S 2757 — Keeping Deposits Local Act · Introduced Sep 10, 2025 · Cong. 119 68%
  • HR 605 — Insurance Consumer Protection and Solvency Act of 2013 · Introduced May 20, 2014 · Cong. 113 63%
  • HR 4551 — Employee Paycheck and Small Business Protection Act · Introduced Jul 21, 2025 · Cong. 119 63%
  • HR 8088 — Growing Deposit Insurance for the Future Act · Introduced Mar 25, 2026 · Cong. 119 62%
  • HR 8087 — Main Street Depositor Protection Act · Introduced Mar 25, 2026 · Cong. 119 61%

Full text

IN THE HOUSE OF REPRESENTATIVES

September 19, 1994

Mr. Klein introduced the following bill; which was referred to the Committee on Banking, Finance and Urban Affairs

A BILL

To amend the Federal Deposit Insurance Act to prohibit insured depository institutions from imposing any fees with respect to certain deposits of rolled coins by individuals who are not more than 16 years of age.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the “Youth Depositor Protection Act”.

SEC. 2. PROHIBITION ON IMPOSITION OF FEES WITH RESPECT TO CERTAIN DEPOSITS OF ROLLED COINS.

Section 18 of the Federal Deposit Insurance Act (12 U.S.C. 1828) is amended by adding at the end the following new subsection:

“(q) Prohibition on Imposition of Fees With Respect to Certain Deposits of Rolled Coins.—No insured depository institution may impose any fee in connection with the deposit of rolled United States coins into an account maintained at such institution by any individual who is not more than 16 years of age.”. <all>

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