In 2008. the Emergency Economic Stabilization Act temporarily raised the limit of FDIC insurance from $100,000 to $250,000 per depositor, per institution. This increase was made permanent by the Dodd-Frank Wall Street Reform and Consumer Protection Act. These were acts of Congress. How can President Biden change the $250,000 maximum to an unlimited amount?
In 2008. the Emergency Economic Stabilization Act temporarily raised the limit of FDIC insurance from $100,000 to $250,000 per depositor, per institution. This increase was made permanent by the Dodd-Frank Wall Street Reform and Consumer Protection Act. These were acts of Congress. How can President Biden change the $250,000 maximum to an unlimited amount?
In 2008. the Emergency Economic Stabilization Act temporarily raised the limit of FDIC insurance from $100,000 to $250,000 per depositor, per institution. This increase was made permanent by the Dodd-Frank Wall Street Reform and Consumer Protection Act. These were acts of Congress. How can President Biden change the $250,000 maximum to an unlimited amount?
I think your point is quite right and the short answer is, "He can't." Eventually, his handlers shall explain this to him.