ICBA and 25 state affiliates submitted a statement for the record ahead of the House Financial Services Committee’s hearing on deposit insurance. ICBA and the state groups said:

• Permanent solutions to deposit insurance reform will proactively bolster the safety of the nation’s financial system by reducing the uncertainty depositors face during crises.
• Raising deposit insurance limits is not a replacement for sound banking and sound supervision – both of which are critical to a healthy financial system  –  but raising deposit insurance limits will bolster depositor confidence in community banks.