Elizabeth Warren is proposing to increase deposit insurance to $20 million, aiming to cover the top 1% of large accounts that aren't usually protected during bank failures.
Elizabeth Warren is proposing to increase deposit insurance to $20 million, aiming to cover the top 1% of large accounts that aren't usually protected during bank failures.
This change would mean a $30 billion special fee affecting all depositors.
This move could push banks toward becoming government-regulated utilities, allowing banks to keep profits while depositors and taxpayers bear the losses.