WASHINGTON - Community bankers will not support changes to deposit insurance unless the coverage limit is doubled to $200,000 per account, according to industry representatives.
As the Federal Deposit Insurance Corp. prepares to present its range of reform alternatives next Monday, community bankers are pouring on the pressure. "It isn't a threat, just a reality," said Kenneth A. Guenther, executive vice president for the Independent Community Bankers of America. "Increased coverage represents the third leg of the chair of reform. If you take that away, the chair will topple."