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Contact:
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Robert Schmermund
(202) 857-3104
Jim Eberle
(202) 857-3145
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Jim Eberle
(202) 857-3145 (work)
(703) 893-2593 (home)
[email protected]
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For Immediate Release
October 17, 2001
#01-69 |
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E-mail:
[email protected] |
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ACB COMMENDS FDIC CHAIRMAN ON RECOMMENDING INCREASE IN DEPOSIT INSURANCE COVERAGE FOR RETIREMENT ACCOUNTS
Statement by Diane M. Casey, president and CEO, America’s Community Bankers, on FDIC Chairman Donald Powell’s recommendation today to increase deposit insurance coverage on retirement accounts:
America’s Community Bankers commends Chairman Powell for recommending a substantial increase in deposit insurance coverage for retirement accounts. ACB has been a leading advocate of providing increased protection for retirement savings, especially given the growth of tax-advantaged savings accounts and the prospect of self-directed Social Security accounts.
A higher coverage limit for retirement accounts is important to all savers, but especially to retirees and those nearing retirement. Today, $100,000 in deposit insurance coverage for retirement accounts is insufficient and inadequate. Congress must increase deposit insurance coverage for retirement savings accounts, and it needs to do so now.
America’s Community Bankers is the national trade association committed to shaping the future of
banking by being the innovative industry leader strengthening the competitive position of
community banks. To learn more about ACB, visit
www.AmericasCommunityBankers.com.
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America’s Community Bankers
900 Nineteenth Street, NW, Suite 400,Washington, D.C. 20006
phone 202-857-3100 | fax 202-296-8716 | [email protected]
Copyright 1996-2002 © America’s Community Bankers. All Rights Reserved.
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