Republican of Louisiana

Last month, Rep. Bill McCollum, R-Fla., unveiled his plan to shore up the Savings Association Insurance Fund. The measure, HR 1769, would make banks shoulder 75% of the annual interest tab on Financing Corp., or Fico, bonds. In return for help on Fico, the bill would reinstate the Federal Deposit Insurance Corp.'s authority to rebate money to banks once the fund climbs above its mandated 1.25% reserve ratio.

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