Accounts of up to $250,000 at credit unions and banks would be permanently insured beyond the current expiration date of 2013, as a result of an amendment approved late yesterday by the House-Senate conference committee on regulatory overhaul.
The committee extended for two years the FDIC's unlimited coverage of noninterest bearing transaction accounts.
At the height of the financial crisis in 2008, lawmakers temporarily raised the cap from $100,000 to $250,000 as a way to instill public confidence.
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