Mid-Sized Banks Request Extension of FDIC Coverage to Uninsured Deposits

The Mid-Sized Bank Coalition of America (MBCA) sent a letter to the Treasury, the FDIC, the Comptroller of the Currency, and the Federal Reserve requesting for expansion of the FDIC insurance program to protect all deposits for the next two years. MBCA’s proposed expansion would be paid for by the banks and would extend to smaller banks and not just to the banks the regulators deem as “necessary to protect the financial system.”

Read more.