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Federal Deposit Insurance Reform Act of 2005.(front page)(Brief article)

Business Credit

| April 01, 2006 | COPYRIGHT 2006 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

After six years, FDIC reform is finally a reality: the Federal Deposit Insurance Reform Act of 2005 was adopted by Congress as part of the Deficit Reduction Act of 2005 and signed by the President. This legislation will, without a doubt, come to be seen as a landmark piece of banking legislation. The final bill includes merging the two deposit insurance funds, increasing coverage for retirement accounts to $250,000; indexing the insurance fever for inflation; credits--totaling $4.7 billion--to offset premiums for banks that capitalized the FDIC by 1996 (which deals with the fairness issue of fast-growing banks); a cap on the level of the fund and cash dividends ...

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