Washington | Four prominent US lawmakers on banking matters said on Sunday they would consider whether a higher federal insurance limit on bank deposits was needed to stem a financial crisis marked by a drain of large, uninsured deposits away from smaller and regional banks.
“I think that lifting the FDIC insurance cap is a good move,” Senator Elizabeth Warren, a Democrat, said on CBS’s Face The Nation program, referring to the Federal Deposit Insurance Corporation’s current $US250,000 ($374,000) limit per depositor.
