Big name investors like Bill Ackman are calling on the FDIC to insure all deposits, but that would only cost banks' customers more, former FDIC chair says
show signs of weakness after a trio of bank failures rocked markets in March and April. Currently, the FDIC only backs deposits under $250,000, which would leave larger depositors at risk of losing their money in the event of a bank failure.
But extending deposit coverage won't be cheap, McWilliams said, as complicated and complex banks will incur a larger cost to insure deposits. "The cost will be borne by somebody. It will be the bank, and inevitably that cost will be borne by its customers," she said."I'm just warning lawmakers and policymakers, whatever they do, there's going to be a cost associated with that."
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