Fdic Considers Higher Insurance

Thu., Aug. 10, 2000

With the $100,000 limit on bank deposit insurance eroded by inflation to only half of what it was worth in 1980, federal regulators said Wednesday they are seeking public comment on whether it should be raised.

The FDIC is recommending to Congress that the bank insurance fund be merged with the fund for savings and loans to create a single, more diverse insurance fund that would be less vulnerable to regional economic problems.

The FDIC issued an 84-page “options paper” detailing the issues and others related to deposit insurance, including the question of whether the $100,000 insurance limit per account should be increased and tied to inflation. The limit is set by Congress, which hasn’t raised it since 1980.

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Fdic Considers Higher Insurance

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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