Posted BY: | NwoReport
The Federal Deposit Insurance Corporation (FDIC), staring down nearly $23 billion in outstanding costs following recent bank failures, is deliberating shifting much of that financial burden onto the nation’s largest banks.
Bloomberg reported that the FDIC is expected to propose a “special assessment” in May primarily focused on recuperating some of the $128 billion deposit insurance fund that has taken a significant blow since the collapse of Signature Bank and Silicon Valley Bank. In shifting much of this financial burden from community lenders onto larger banks such as JPMorgan and Chase & Co. and Bank of America, which already pay billions of dollars into the Deposit Insurance Fund.
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