Related: Small Banks to Bailout Wall Street
"FDIC backs new system of fees to replenish fund" by Associated Press | May 23, 2009
WASHINGTON - Federal regulators yesterday adopted a new system of special fees paid by US financial institutions that will shift more of the burden to bigger banks to help replenish the deposit insurance fund.
'bout time.
The move by the Federal Deposit Insurance Corp. cut by about two-thirds' the amount of special fees to be levied on banks and thrifts. It followed protests by small and community banks - with powerful allies in Congress - against a plan adopted in February that charged premiums based on the amount of deposits. The smaller institutions insisted they would be unfairly hit even though they didn't contribute to the financial crisis with reckless lending....
Yeah, why should my nice, friendly, community bank pay for the sins of those looters?
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