The CEO of the Independent Community Bankers of America is ramping up a push for Congress to raise federal deposit insurance limits, writing in a letter sent to lawmakers today that the changes would “promote balanced deposit-insurance coverage across the banking industry.”
Sens. Bill Hagerty (R-Tenn.) and Angela Alsobrooks (D-Md.) overhauled their approach to deposit insurance reform this week, which we scooped Thursday afternoon. The speedy embrace from ICBA CEO Rebeca Romero Rainey is an important nudge toward a broader embrace of the Main Street Depositor Protection Act, though challenges remain.
