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Lifting or eliminating the cap on FDIC insurance for banks could be part of the response to the current banking crisis. Here’s what it could mean for local, community and public banks.
CHICAGO - Governor Pritzker signed HB 5194 , the Illinois Banking Development Districts Act, into law on Friday. Sponsored by State Senator Doris Turner (D-Springfield) and State Representative La Shawn Ford (D-Chicago), this legislation creates a new incentive program for the creation of bank branches in underserved communities.