FDIC insurance (yet again)

I just read that republicans are proposing "Extending government deposit insurance to business transaction accounts."
does this mean a business entity has no FDIC protection currently?
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According to www.fdic.gov corporations, partnerships, and unincorporated businesses are covered up to $250K per entity. But you don't have to be a very big company for that to be this week's payroll. -- Doug
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wrote:

thanks. I guess that was just sloppy reporting, the way it was worded. I guess they mean to increase it beyond $250k. I guess.
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Business entities are currently insured ... directed from the FDIC Website: "Deposits owned by a corporation, partnership, or unincorporated association are insured up to $250,000 at a single bank, but are insured separately from the personal accounts of the entity's stockholders, partners, or members."
Jean Keener Keller, TX www.keenerfinancial.com
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"The ability of Eligible Entities to issue guaranteed debt under this program would expire on June 30, 2009. Initially, all Eligible Entities will be covered under this program for a period of 30 days. Prior to the end of this period, Eligible Entities must inform the FDIC whether they will opt-out of the guarantee program. If an Eligible Entity opts out of the program, the guarantee on newly issued senior unsecured debt and non-interest-bearing transaction deposit accounts will expire at the end of the 30-day period, regardless of the term of the instrument"
yes, they can opt out. I wonder if a bank opting out will bother to tell its customers . . .
Second, it applies to all

"FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs)."
this is from the FDIC website. Does this cover your concern?
also, does any of this apply to Credit Unions? I see nothing on any of this new stuff on the NCUA website.
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