Department of the Treasury

FDIC’s Deposit Insurance Fund Could Go Broke 

The U.S. government has warned this week of a severely troubled deposit insurance fund that risks tanking this year amid rapidly mounting bank failures. “Without substantial amounts of additional assessment revenue in the near future, current projections indicate that the fund balance will approach zero or even become negative,” wrote Federal Deposit Insurance Corp. chairman Sheila Bair, in a letter to chief executives Monday.