Senate Majority Leader Harry Reid, D-Nev., has introduced a bill that would extend the Federal Deposit Insurance Corp.'s Transaction Account Guarantee (TAG) program, The Hill reports. TAG, which provides unlimited FDIC coverage on non-interest-bearing checking accounts, affecting an estimated $1.4 trillion in assets.
The American Bankers Association and the Independent Community Bankers of America had urged Congress to extend the measure, arguing that the U.S. economy remains "fragile."
According to The Hill, Reid's bill, S. 3637, has no co-sponsors and the text of the bill is not yet available.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
