WASHINGTON — A prominent Republican on the Senate Banking Committee said Wednesday he plans to oppose extending the Transaction Account Guarantee program, just days after the Senate's top Democrat proposed a two-year renewal.

Sen. Bob Corker, R-Tenn., had previously signaled concerns about the program — which provides unlimited insurance for certain non-interest-bearing checking deposits — stressing the fact that the original program was meant to be temporary. Without congressional action, the current program is set to expire at yearend.

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