FDIC Raises Bank Deposit Insurance Premium Again to 23 Cents
The FDIC voted unanimously to lift the annual premium to 23 cents per $100 in deposits, effective July 1, up from 19.5 cents. The move, generating about $870 million yearly, aims to bolster a dwindling fund as 12,300 banks and 500 thrifts are covered and plans to borrow $10 billion to shore it up. FDIC chair Seidman called the hike essential to maintain a strong system at no taxpayer cost amid calls for Treasury borrowing authorization up to $25 billion by Congress.
MENTIONED IN THIS ARTICLE
Washington
Federal Deposit Insurance Corp
FDIC
L. William Seidman
House Banking Subcommittee On Financial Institutions
General Accounting Office
Frank Annunzio
D-Il
Financial Institutions Subcommittee
The
Treasury
Consumer confidence drifts lower amid April gloom
The Conference Board reports April consumer confidence at 79.2, down from 81.1 in March as worries about jobs rise. While optimism about the future remains, current business conditions dim, with 36 percent describing conditions as bad and unemployment at 6.8 percent for March.
MENTIONED IN THIS ARTICLE
New York
Conference Board
Donation by Wahl Business Systems Inc to Independent Hose Co
Frederick firm Donation Wahl Business Systems Inc donated a $3,000 Canon NP1520 copier to the Independent Hose Co. Lieutenant Rodney Masser accepted the unit from Gene and Cathy Wahl, noting it would be used to copy reports and paperwork needed to run the fire company.
MENTIONED IN THIS ARTICLE
Wahl Business Systems Inc
Frederick
Independent Hose Co
Rodney Masser
Gene
Cathy Wahl
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