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The Financial Services Roundtable, which strongly opposes deposit insurance coverage increases and other aspects of H.R. 3717, shared its estimate of the cost of the bill to the industry in a letter to House Financial Services Committee members late last week. Their estimates, which were based on faulty assumptions and erroneously calculations, ranged from $4.3 billion to $6.3 billion (equal to one-time premiums of 9.6 to 14 cents). The ICBA took a critical eye to the Roundtable's flawed estimates and wrote the following rebuttal.
ICBA's rebuttal
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