The House Financial Services Committee approved the increase in federal guarantees for bank deposits from the current $100,000 limit and indexs the limit to inflation, but it faces an uncertain future.
The legislation died in the Senate the past four years, opposed by Senate Banking Committee Chairman Richard Shelby, R-Ala.
One potential compromise being floated is leaving the limit at the $100,000 threshold, but allowing future indexing of th limit.
The FDIC limit was last increased in 1980.
Scarlett Johansson steps out with fiance after pregnancy reveal
Interpol investigating stolen passports on missing flight