Deposit Insurance ReformFinalized

February 02, 2006, 1:00 a.m. EST 1 Min Read

WASHINGTON - (02/02/06) -- The House overwhelmingly passed theDeposit Insurance Reform bill Wednesday sending the bill to morethan double insurance coverage for retirement accounts on to thePrsident for his signature. The bill will raise the limit onretirement accounts, currently $100,00 like other accounts, to$250,000 each, and require NCUA and the banking regulators to startraising coverage limits for all other accounts, based on the rateof inflation in 2010. The bill will also merge the bank and thriftinsurance funds, something that has been debated since the S&Lcrisis.

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