MANCHIN, BRAUN, HICKENLOOPER INTRODUCE BIPARTISAN LEGISLATION TO MAINTAIN CONFIDENCE IN BANKING SYSTEM, STRENGTHEN ECONOMY

Press Release

"Small businesses are the backbone of our economy. They deserve to have the same protection from loss when they choose to bank in their own communities rather than "too big to fail' banks. This bill would level the playing field for community banks and promote confidence that in the face of a bank failure, businesses will have access to their hard-earned deposited funds to pay their employees. This bipartisan legislation would bring stability to community banks and their business customers by removing the risk of loss from deposit accounts that are commonly used to meet payroll and other business transaction purposes."

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