Top House Dems Push For FDIC Guarantee Program Extension

Law360, New York (August 9, 2012, 1:25 PM EDT) -- Top Democrats in the U.S. House of Representatives on Wednesday called on the Obama administration to extend a Federal Deposit Insurance Corp. program that provides unlimited insurance on transaction accounts above $250,000 in order to help bolster the flagging economy.

Rep. Barney Frank, D-Mass., Rep. Maxine Waters, D-Calif., and House Minority Whip Steny Hoyer of Maryland said that the extension of the Transaction Account Guarantee program for at least two years as a way to continue support for small and community banks that rely on the...
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