Letter to the FDIC requesting the FDIC to extend and clarify individual FDIC deposit insurance coverage

The public puts money and confidence in U.S. financial institutions partly because of the
safety net of federal deposit insurance. The development of prepaid cards of various
types not specifically connected to individual deposit accounts has created uncertainty
and gaps in the deposit insurance safety net that must be closed now, as the nation
begins to grapple with an anticipated series of bank failures.

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