WASHINGTON — Maxine Waters, the top Democrat on the House Financial Services Committee, is floating the idea of guaranteeing all uninsured depositors in the future. "Are we going to make sure that we take care of the uninsured in the way that we did with this fallout from Silicon Valley Bank?"…
(Original Caption) General view of the crowd outside of the East New York Savings Bank during the ... run on that bank.Bettmann Archive Eighteen years ago, the US modernized its by-then-anachronistic system of federal bank deposit insurance. With the Federal Deposit Insurance Corporation Improvement Act of 2005, Congress ended the…
Sen. Elizabeth Warren (D-Mass.) on Wednesday said the $250,000 cap on deposit insurance should be reexamined to better suit small business and nonprofit organizations. “I think that we should reexamine, just overall, about why we have limits at $250,000 of protection,” she said on CNBC’s “Squawk Street.” The Federal Deposit…