WASHINGTON - (04/28/05) -- The House Financial ServicesCommittee again approved a bill Wednesday to reform the depositinsurance reform system by raising the coverage on all federallyinsured bank and credit union accounts to $130,000, from thecurrent $100,000, and index future increases in coverage to therate of inflation. The bill would also double the coverage onretirement accounts to $260,000. The bill, which now goes to a voteby the full House, passed the House almost two years ago, to theday, but died when the Senate refused to act on it. The creditunion lobby has been reluctant to push the bill but insists if thecoverage is raised for bank deposits then it must also be increasedfor credit unions, too.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3