House gives FDIC power to raise rates

September 18, 1990|By Chicago Tribune

WASHINGTON -- The House, acting with unusual urgency approved a measure yesterday that would permit the Federal Deposit Insurance Corp. to boost insurance premiums banks pay to the fund that backs deposits at commercial banks.

A nearly identical bill has been introduced in the Senate by its Banking Committee chairman, Donald Riegle, D-Mich.

By increasing the premiums, the law would raise banks' costs of doing business.

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