Top Republicans on the House Financial Services Committee made clear this morning they’re not sold on a leading Senate bill to expand deposit insurance limits for certain types of bank accounts.
Led by Financial Services Committee Chair French Hill (R-Ark.), senior GOP lawmakers laid out several concerns about a bill from Sens. Bill Hagerty (R-Tenn.) and Angela Alsobrooks (D-Md.) that would raise deposit insurance thresholds to $10 million for business transaction accounts.
The House’s posture puts the committee’s leadership at odds with Treasury Secretary Scott Bessent, who has been working with Hagerty to secure these changes, as well as significant swaths of the community banking industry.
