Banking Regulations Could Be Reintroduced on Capitol Hill
WASHINGTON, D.C. – Following the collapse of three banks over the past week, it’s possible the US Congress will re-introduce some regulations.
CBS News Correspondent Linda Kenyon told WKOK’s On The Mark, some lawmakers in Washington think deregulation was a factor to the collapses, “There is a push on Capitol Hill to reintroduce some of those banking regulations that were rolled back during the Trump Administration. The question is, will it get through Congress?”
On if there’s a ‘bailout’ for banks, Kenyon says, ‘not really’ because the collapses aren’t affecting taxpayers now, but they could in the future.
She says banks typically pay into a fund into the FDIC (Federal Deposit Insurance Corporation) to help depositors, but now banks have to replenish it, “And who’s going to help them replenish that fund when you think about it? It would be the depositors wouldn’t it? Because they’re probably gonna be getting the assessed bank charges, etc, which may come across as hidden fees, but in the long term, the tax payers will end up, if they have their money in banks, having to pay probably a little increase here, a little uptick there.”
You can hear more analysis from CBS’ Linda Kenyon on the WKOK.com Podcast Page or wherever you listen to podcasts.
