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Corker Expresses Opposition to TAG Extension

Banks hoping Congress will extend the FDICs Transaction Guarantee Program are facing opposition from Tennessee senator.

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Banks hoping Congress will extend the FDIC’s Transaction Guarantee Program are facing opposition from Sen. Bob Corker (R-Tenn.), who occupies a seat on the Senate Banking Committee.

Corker penned an Aug. 2 letter to FDIC Chairman Martin Gruenberg that was critical of extending the temporary program that provides unlimited federal deposit insurance coverage for transaction accounts.

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