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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 ...