Lawmakers consider raising FDIC deposit insurance cap after SVB collapse

Deposit insurance - Money - Law

The Silicon Valley Bank collapse has some believing that $250,000 is not enough protection. Some lawmakers in the United States consider the Silicon Valley Bank collapse to be an eye-opening experience and are now tinkering with the idea of raising the Federal Deposit Insurance Corporation’s coverage cap of $250,000 in case of another catastrophic bank failure in the future. Raising the FDIC cap would provide greater protection to the customers of a failed bank. “I think that lifting the FDIC insurance cap is a good move,” said Senator Elizabeth Warren…

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7 Ways To Invest In 2023 | A Detailed Study

different ways to invest in 2023

Investing is a crucial aspect of building wealth and securing a financially stable future. While the investment world can be complex and intimidating, it is essential to understand the different investment options available to make informed decisions. In this post, we will discuss seven ways to invest in 2023, backed by genuine data and in-depth research. 7 Ways To Invest In 2023 Stocks Stocks have been a popular investment option for decades, and their popularity has only increased in recent years. According to a report by Statista, the number of…

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9 Louisiana insurance companies apply for new incentive program

Louisiana insurance - Apply Now

Commissioner Donelon released an update about the strategy to take the pressure off Citizens. Louisiana Insurance Commissioner Jim Donelon recently held a news conference during which he released an update about the new incentive program in the state. The announcement revealed that 9 insurers selling in the state have applied for the program. The Louisiana insurance program announcement was a follow up to the $45 million funding bill state legislators passed to allow the Department of Insurance in the state to form an incentive program to draw more insurers to…

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Fannie Mae considers forgoing title insurance

Title Insurance - Business

The government-run company is considering eliminating this requirement for some mortgage lenders. Fannie Mae is considering a program that would bypass the need for title insurance and attorney opinion letters, according to a number of recent media reports. The program would allow certain mortgage lenders to be able to waive the requirements for the coverage. The program Fannie Mae is considering would waive required title insurance coverage for some lenders on loans sold to the government-run company, according to a recent The Real Deal report. Fannie Mae backs trillions of…

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Silicon Valley Bank lacked deposit insurance in 85 percent of cases

Deposit insurance - Person making a deposit - Business

Customers are seeking to find out what this means for the funds they had in their accounts. Last week, Silicon Valley Bank became the second largest bank failure in American history and new reports have revealed that over 85 percent of its deposits were without deposit insurance. The FDIC has been tasked with returning money to the bank’s customers where applicable. The Federal Deposit Insurance Corporation has taken over about $175 billion in customer accounts and will be returning money to customers where it can. That said, over 85 percent…

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Harford Mutual and ClearPath Mutual insurance companies announce merger

Insurance companies - Merger

The insurers have created a merger plan and have announced their intention to move forward as one. The Harford Mutual Insurance Group (HMIG) and ClearPath Mutual Insurance companies have announced that they have agreed to a plan to merge. The commercial property and casualty insurer and the monoline workers’ compensation carrier will be merging. The insurers stated that this was an opportunity that allowed them to align their strategic goals. “We are constantly seeking opportunities that complement our strategic goals and provide our policyholders and independent agents with the products…

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Insurance companies sued by NFL over antitrust litigation

Insurance companies - Lawsuit - NFL

The lawsuit has to do with the availability of coverage for a Sunday Ticket action filed back in 2015. The National Football League has a long history of battles with its insurance companies with regard to concussion lawsuits and settlements, but more recently, it has filed a suit for another reason. In this case, it has to do with the availability of coverage for a Sunday Ticket antitrust action that was filed against the league in 2015. The lawsuit was first revealed in November, when sports attorney Daniel Wallach tweeted…

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