U.S. Senator Ben Nelson is supporting an amendment to the financial reform bill that benefits small town community banks. The amendment changes FDIC premium amounts to place more of the burden on the so called too big to fail banks.
“That would then reduce the assessment on 98% of the banks with less than $10 billion in assets keeping $4.5 billion in community banks.”
Nelson says the assessed premium would be based on total assets, not just domestic deposits, therefore helping the smaller banks that exist in Nebraska and other states.