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It has been two and a half years since the regional bank failures, and Congress has not done anything to fix deposit insurance. The FDIC published a report on May 1, 2023, detailing the options before Congress for deposit insurance reform, but none of the choices are without tough tradeoffs. The public wants higher deposit insurance coverage, but that choice means banks will pay higher deposit insurance premiums, and higher premiums mean less profit. Congress needs to vote, and its vote is overdue. The last time Congress voted on deposit insurance to increase the cap to $250,000 was fifteen years ago.