RPT-Banks urge Congress to extend crisis-era deposit insurance
| Reuters
"Time is not on the bankers' side on this issue. Only about three
weeks of legislative days are left to craft an extension of the TAG
insurance program before the presidential election.
Exacerbating the problem is that banks are feuding among themselves over the program.
Many large banks are concerned that small banks are winning deposits
by assuring customers their funds are completely safe. If these banks
end up failing, big banks could have to pay more money into the FDIC
insurance fund"
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