WASHINGTON, March 26 -- Sen. Catherine Cortez Masto issued the following press release:
U.S. Senators Catherine Cortez Masto (D-Nev.), Angela Alsobrooks (D-Md.), Bill Hagerty (R-Tenn.), Jim Banks (R-Ind.), Ruben Gallego (D-Ariz.), and Cindy Hyde-Smith introduced the Main Street Depositor Protection Act, bipartisan legislation that would allow the Federal Deposit Insurance Corporation to raise its cap on deposit insurance.
"The small businesses that support our neighborhoods deserve peace of mind that the bank accounts they use for payroll and purchases will be insured," said Senator Cortez Masto. "Increasing the insurance coverage levels on bank accounts that don't generate interest is a commonsense way to ensure America's main street is ...