House Bill Aims To Hike Deposit Insurance Limits

Law360, New York (January 29, 2009, 12:00 AM EST) -- Moving to take swift action on the bill, the chairman of the House Committee on Financial Services has proposed a measure to promote bank liquidity by boosting federal deposit insurance limits and provide relief for some homeowners seeking to work out or refinance mortgages.

Proposed by U.S. Rep. Barney Frank, D-Mass., H.R. 703 would permanently increase maximum insurance coverage limits for federally insured deposits from $100,000 to $250,000, according to the bill.

The bill would also make it easier for homeowners to modify terms of mortgages...
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