Word: fdic
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Dates: during 1970-1979
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...ailing economy. Legislation desired by Sharp was introduced at a special session of the state legislature that could have given state-chartered banks and perhaps insurance companies tremendous advantages. The measures, actively supported by Governor Smith, would have allowed a state-chartered organization to assume the functions of the FDIC in Texas. The ceiling on insured deposits, then $15,000 under FDIC, would have been raised to $100,000. The change, presumably, would have attracted new funds to banks, and would have removed close federal scrutiny of banking operations...