US Officials Discuss the Possibility of Increasing Deposit Insurance Coverage
In the wake of the 2008 financial crisis, US officials are discussing the possibility of increasing deposit insurance coverage. Deposit insurance is a type of insurance that protects depositors in case their bank fails. Currently, the Federal Deposit Insurance Corporation (FDIC) provides deposit insurance coverage up to $250,000 per depositor, per insured bank.The idea of increasing deposit insurance coverage has gained traction in recent years, as many people are still wary of the banking system after the financial crisis. The FDIC has been advocating for an increase in deposit insurance