The Federal Deposit Insurance Corp. today proposed that banks prepay tens of billions of dollars in fees to bolster its insurance fund that has been depleted by a rash of bank failures during the recession. The FDIC today proposed making banks pay three years worth of fees in advance, a move that could rake in $45 billion and would replenish the dwindling FDIC deposit insurance fund. As of the end of June, the FDIC's insurance fund for depositors had dwindled to $10.4 billion, its lowest level in 15 years. The agency now expects bank failures to cost the fund $100 billion over the next four years, with the bulk of the costs coming this year and next, and the fund balance to turn negative this month.
Should you have a business or banking issues, contact Steven Peck's Premier Legal toll free at 1-866-999-9085 and visit us on-line at www.premierlegal.org
