Why some argue it's time to raise the FDIC deposit cap

Posted on AllSides March 20th, 2023
From The Left
Sarah Grillo/Axios

The FDIC guarantees bank deposits of up to $250,000 — a figure most of us weren't thinking all that much about until a week ago, when regulators guaranteed all customer deposits, even those above a quarter-million dollars, at two failed banks.

Why it matters: Now lawmakers, academics, and some in the financial industry are debating whether the FDIC limit, which hasn't been raised since 2008, needs to be increased — or abolished altogether.

Over the weekend, four different lawmakers involved in banking said they'd consider raising the limit, CNBC reports. Last week, Maxine Waters (D-Calif.), ranking member of the House...

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