State Regulators Want FDIC Guarantee Program Extended

Law360, New York (August 3, 2012, 5:20 PM EDT) -- State banking regulators on Friday joined in the growing chorus calling for the extension of a Federal Deposit Insurance Corp. program that provides unlimited insurance on transaction accounts above $250,000, arguing that a continuing guarantee on those accounts would help stabilize small banks.

In a letter to leaders in the Senate and the U.S. House of Representatives, the Conference of State Bank Supervisors said that extending the Transaction Account Guarantee Program by at least two years was vital to preventing further consolidation in the banking industry....
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