National News

FDIC extends TAG program

The FDIC approved an interim rule to extend the Transaction Account Guarantee program to Dec. 31. Under the TAG program, customers are provided full coverage on transaction accounts. About 80 percent of the banks in the country participate in the TAG program. The interim rule gives the FDIC discretion to extend the program to the end of 2011 if it determines that economic conditions warrant such an extension. “It’s necessary to extend the TAG program because the lingering effects of the financial crisis that emerged in 2008 in . . .

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