The Senate recently blocked the
Dodd-Frank Transaction Account Guarantee Program (‘TAG’) Bill. TAG was
designed to temporarily insure large commercial and institutional transaction
accounts that have more money than is covered by typical deposit insurance,
$250,000 per account.
As a result of TAG’s expiration, many
banks are seeking solutions that will allow them to continue offering full FDIC
insurance coverage and retain those customer relationships. StoneCastle, a leading investor and advocate
for community banks and a CBAO Partner is available to offer immediate support
to those banks impacted by expiration of TAG.
StoneCastle Cash Management offers the Federally Insured Cash Account
for those depositors which require FDIC insurance on large balances. Click here if you would like to learn more.
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