In a win for community banks, the FDIC has approved a rule charging large banks an additional fee to replenish its deposit insurance fund following the failures of Silicon Valley Bank and Signature Bank earlier this year. According to a report from Politico, the assessment will be charged based on a bank’s total number of uninsured assets at the end of last year, and will not hit smaller banks, including community banks.
PACB and other community bank groups nationwide were instrumental in pushing back on a mandate from the ABA that all banks, regardless of size, should pay for the two bank failures.
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