Financial reform legislation nearing enactment
The U.S. House of Representatives passed H.R. 4173 by a vote of 237-192 on June 30. In its closing hours of work, the House-Senate conference committee dropped a $19 billion tax on the nation’s largest banks and raised the statutory minimum balance of the Deposit Insurance Fund to 1.35 percent. The minimum currently is 1.15 percent. Only banks with more than $10 billion in assets would be required to pay higher premiums in order to reach the higher minimum fund balance. The . . .
This content is only accessible to members with a current subscription. If you are a subscriber but don't have online access, please contact us at 952-835-2275.