"Push for FDIC to Lift Insurance Cap Gains Momentum Among Lawmakers and Banks"

Senator Elizabeth Warren has suggested that lifting the Federal Deposit Insurance Corporation's (FDIC) insurance cap from its current $250,000 limit should be considered as lawmakers debate how to respond to the recent collapse of two banks. Warren said the key question for Congress to work through is where to set the insurance cap for FDIC deposits. She also called for accountability for regulators and executives of these banks, and criticized the Fed and its chair, Jerome Powell, for being under-regulated. Warren separately called for an independent investigation into the bank and regulatory failures.