Mid-sized regional banks and community banks around the country are urging regulators to consider lifting the FDIC's threshold for uninsured deposits after they granted exceptions.
Small banks and a number of lawmakers are already raising red flags about who should fund a new deposit safety net and warning that it would incentivize poor management.
Jason Cohen Daily Caller News Foundation Treasury Secretary Janet Yellen stated during her testimony at a Senate Finance Committee hearing on March 16 that she, the FDIC board, the Fed board, and President Joe Biden would only safeguard uninsured deposits at banks whose failures they determine would pose “systemic risks” to the economy, which will…