Mar 16, 2023 | News

‘We’re Going to Increase’ Amount of Bank Deposits Protected by FDIC Above $250K

'We're Going to Increase' Amount of Bank Deposits Protected by FDIC Above $250K

On Wednesday’s broadcast of the Fox News Channel’s “Your World,” Rep. James Clyburn (D-SC) stated that “We’re going to increase” the amount of bank deposits protected by the FDIC above the maximum of $250,000.

Clyburn stated, “I do believe things have stabilized thanks to the quick action of the Biden administration to step in, to protect — not just the banks — but to protect the depositors. And that’s the way it ought to be done. The last time we were here back in…September 2008, when we had a situation like this, things went awry and Congress stepped in. But we stepped in basically to bail out the banks. This administration is not bailing out anybody. What they’re doing and the way they’re doing it is to protect everybody.”

Host Neil Cavuto then cut in to ask, “Yeah, but they are bailing out people, right, Congressman? They’re bailing out…

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