Peltz's proposed plan comes after uninsured deposits contributed to the failure of Silicon Valley Bank.
Money is leaving small banks and that's a very dangerous situation, says Trian's Nelson PeltzPeltz's idea comes in the aftermath of massive deposit outflows from U.S. regional banks in recent weeks. The failure of Silicon Valley Bank appeared to be caused by a bank run after customers with large accounts noticed issues with the bank's balance sheet.
"They do it anyway. Let's create some income for them, let's have the system smoothed out and give people peace of mind," Peltz said. The hedge fund manager is not the only person calling for raising the insurance threshold. Former Goldman Sachs executive and Trump administration advisor Gary Cohn said on CBS's "
" on Sunday that regulators should consider raising the the insurance cap dramatically and implementing a tiered pricing system to pay for it.
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