So if this bill does pass with the one-year timeframe, you may not want to go over $100K at a bank with long-term CDs. At least it would allow those with over $100K to make greater use of savings account and short-term CD specials.
Regarding coverage limits of credit unions, that's governed by the National Credit Union Administration (NCUA). The NCUA just issued this press release stating support for the insurance coverage increase. The chairman was quoted as saying:
I cannot overstate how important it is that the protections offered by our two insurance funds remain parallel.
So if the FDIC limits change, it appears likely that we'll see the same change in the NCUA limits.
I don't see any mention at the NCUA website regarding the recent new interim rule issued by the FDIC on Friday (see post). This new rule eliminated the concept of qualifying beneficiaries that were required for extending insurance limits on POD accounts.