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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