Thanks to foggy weather that delayed and canceled some flights,the Senate has canceled today's procedural vote on S. 3637, the bill that could extend the TransactionAccount Guarantee program.
|Instead, CUNA is reporting, the vote will come on Tuesday. S.3637 would extend unlimited deposit insurance coverage grantedduring the financial crisis for noninterest bearing transactionaccounts. Coverage is set to revert back to $250,000 at year's endwithout congressional action.
|The TAG bill is strongly favored by major bank tradeassociations; however, both CUNA and NAFCU oppose the bill unless member business lending legislation isadded as an amendment.
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