Bank CEOs Press Lawmakers for Deposit Insurance Reform

Lawmakers and banking groups emphasized that reform should be empirically driven and carefully calibrated to avoid unintended costs.Proposals range from maintaining current limits to raising coverage for business accounts, with debate over costs and national security implications.Bank leaders and regulators urged senators to consider targeted deposit insurance reform to protect business operating accounts, especially in light of digital-age deposit flight risks.Bank CEOs told lawmakers at a Senate Committee ...