"Warren and Midsize Banks Push for Increased FDIC Insurance Coverage"
Senator Elizabeth Warren has called for Congress to lift the cap on federal insurance on bank deposits from $250,000, as lawmakers consider policy changes following the collapse of Silicon Valley Bank. The FDIC currently insures deposits of up to $250,000 for each customer, but the federal government decided to backstop all uninsured deposits at Silicon Valley Bank. Warren argues that lifting the FDIC insurance cap would place more responsibility on federal banking regulators, who she says were asleep at the wheel. Some Republicans have criticized the move, describing it as a bailout of bank executives and wealthy depositors.