The Federal Deposit Insurance Corp. is set to pay almost $23 billion to stabilize the banking sector. That money comes from an insurance fund that is refilled annually through fees paid by banks. Now the agency is considering a special assessment on the entire industry to help make up the costs, according to a Bloomberg report. It also noted that big banks (who have been the biggest beneficiaries, as depositors have flocked to safer ground) might have to pay extra.
The Biden administration will propose a new rule Wednesday that would make 3.6 million more U.S. workers eligible for overtime pay, reviving an Obama-era policy effort that was ultimately scuttled in court.
