The Dodd-Frank Act provided temporary unlimited deposit insurance (FDIC) coverage from 12/31/2010 until 12/31/2012 for “noninterest-bearing transaction accounts” at all FDIC-insured depository institutions. This coverage has been available to all depositors: consumers, businesses and government entities alike. Without action by Congress, these accounts will lose their unlimited coverage and will no longer be insured separately from a depositor’s other accounts at the same financial institution starting 1/1/2013. Instead, these accounts would be added to a depositor’s other accounts (in the same ownership category at the same institution) with the aggregate balance being insured up to $250,000 per depositor.
More information on what accounts are characterized as “noninterest-bearing transaction accounts” and the coverage limits on other FDIC-insured accounts can be found here: http://www.fdic.gov/deposit/deposits/insured/print/LgPrintEng-YID.pdf.