FDIC calls to boost deposit insurance above $250,000 for some accounts
Headline from CBS News
The Federal Deposit Insurance Corporation is advocating for an increase in the deposit insurance limit for business payment accounts following the three recent bank failures.
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NEW YORK (AP) — The Federal Deposit Insurance Corp. is recommending the U.S. rethink its decades-old policy of insuring up to $250,000 in bank deposits
The Federal Deposit Insurance Corporation is advocating for an increase in the deposit insurance limit for business payment accounts following the three recent bank failures.
The string of regional banking failures that doomed SVB, First Republic and Signature Bank is causing regulators to fundamentally rethink how the government insures bank accounts.
NEW YORK — The Federal Deposit Insurance Corp. is recommending the U.S. rethink its decades-old policy of insuring up to $250,000 in bank deposits and replace it with an overhaul that would allow regulators to cover higher amounts on a “targeted” basis.
Lawmakers could reduce the risk of bank runs by significantly raising deposit-insurance protection for accounts used for payroll and other business payments, the Federal Deposit Insurance Corp. said.
In the future, businesses would be able to bank with little to no fear of losing all their money if their bank fails, if reforms suggested by the Federal Deposit Insurance Corporation become reality.
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FDIC calls to boost deposit insurance above $250,000 for some accounts | Since Then
