H.R. 7323 – Independent and Community Bank Shareholders Protection Act

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Updated April 16, 2026 at 12:35 AM UTC

The Independent and Community Bank Shareholders Protection Act amends the Federal Deposit Insurance Act to let shareholders of certain small depository institutions receive compensation when those institutions are placed in conservatorship or receivership. It applies to banks and savings associations with assets under $15 billion, giving shareholders a right to a pro‑rata share of the institution’s net worth, subject to limits and a short filing period.

Key Provisions

Adds a new claim right for shareholders of covered institutions to seek "just compensation" from the FDIC.
Compensation equals the shareholder’s pro‑rata share of the institution’s net worth as of the conservatorship or receivership date.
Claims are denied if a court finds the institution was insolvent when control passed to the FDIC, or if FDIC expenses exceed the institution’s available funds.
Sets a 90‑day statute of limitations for filing claims, starting when a conservator or receiver is appointed, and applies the same period retroactively to prior conservatorships.
Defines "covered institution" as a depository institution with assets under $15 billion that the FDIC has placed in conservatorship or receivership, and extends the rights to savings associations and their holding companies.
Allows shareholders to appeal a denied claim to the United States Court of Federal Claims.

Legislative Activity

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1 earlier action

HouseIntro Referral Latest Action

Referred to the House Committee on Financial Services.

Financial Services Committee

December 17, 2018

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HouseIntro Referral

Introduced in House

December 17, 2018

HouseIntro Referral

Referred to the House Committee on Financial Services.

Financial Services Committee

December 17, 2018

Bill Text

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Introduced in HouseIssued December 17, 2018

I

115th CONGRESS

2d Session

H. R. 7323

IN THE HOUSE OF REPRESENTATIVES

December 17, 2018

Ms. Jenkins of Kansas introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Federal Deposit Insurance Act with respect to shareholder claims arising from the appointment of a conservator or receiver for certain depository institutions, and for other purposes.

1.

Short title

This Act may be cited as the Independent and Community Bank Shareholders Protection Act.

2.

Shareholder claims

(a)

In general

Section 11(d) of the Federal Deposit Insurance Act (12 U.S.C. 1821(d)) is amended by adding at the end the following:

(21)

Shareholder claims for just compensation

(A)

Claims authorized

(i)

In general

A shareholder of a covered institution may file a claim with the Corporation for just compensation to be paid by the Corporation to the shareholder.

(ii)

Holding companies

A shareholder of a depository institution holding company may file a claim authorized by this subparagraph on behalf of such company with respect to a covered institution.

(B)

Amount to be paid

Just compensation shall be paid to a shareholder in an amount equal to the pro-rata share of the shareholder of the net worth of the covered institution according to generally accepted accounting principles determined as of the date on which the covered institution enters conservatorship or receivership, whichever occurs first.

(C)

Limitation on payment of claims

The Corporation shall not pay a claim under subparagraph (A) if—

(i)

the covered institution is determined by the final judgment of a court of competent jurisdiction to have been insolvent as of the date on which control of the covered institution passed from its shareholders to the Corporation; or

(ii)

the administrative expenses of the Corporation arising from the appointment of a conservator or receiver for the covered institution exceed available funds from the covered institution.

(D)

Statute of limitations

The applicable statute of limitations with regard to a claim brought by a shareholder under subparagraph (A) shall be 90 days beginning on the date that a conservator or receiver is appointed for the covered institution pursuant to this Act.

(E)

Covered institution defined

In this paragraph, the term covered institution means a depository institution—

(i)

for which the Corporation has appointed a conservator or receiver; and

(ii)

that has total assets of less than $15,000,000,000 as of the date on which the institution enters conservatorship or receivership.

.

(b)

Savings association shareholders

The rights provided to a shareholder under section 11(d)(21) of the Federal Deposit Insurance Act, as added by this Act, shall apply in the same manner and to the same extent to—

(1)

a shareholder of a savings association for which the Office of Thrift Supervision appointed a conservator or receiver; and

(2)

a shareholder of a savings and loan holding company on behalf of such holding company with respect to a savings association for which the Office appointed a conservator or receiver.

(c)

Special rules

(1)

Statute of limitations for claims arising from actions prior to this Act

The statute of limitations for a claim filed under this Act, or an amendment made by this Act, with respect to the appointment of a conservator or receiver for a covered institution or savings association occurring prior to the date of enactment of this Act shall be 90 days beginning on such date of enactment.

(2)

Prior claims

A shareholder shall not be precluded from filing a claim under this Act, or an amendment made by this Act, if a claim with respect to the same conservatorship or receivership has been previously adjudicated before a court of competent jurisdiction.

(3)

United States Court of Federal Claims

A shareholder may seek review of a denial by the Federal Deposit Insurance Corporation of a claim filed under this Act in the United States Court of Federal Claims.

(d)

Definitions

In this section:

(1)

Covered institution

The term covered institution has the meaning given that term in section 11(d)(21) of the Federal Deposit Insurance Act (as added by this Act).

(2)

Savings association

The term savings association has the meaning given that term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).

(3)

Savings and loan holding company

The term savings and loan holding company has the meaning given that term in section 10 of the Home Owners’ Loan Act (12 U.S.C. 1467a).