WASHINGTON -- Soon banks may no longer be able to say the check is in the mail for their deposit insurance bill.

The Federal Deposit Insurance Corp. board on Tuesday voted to take up a proposal that would require banks to pay the tab for their deposit insurance assessments electronically.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.