EXCLUSIVE: Conservative Orgs Sound Alarm On Liz Warren-Backed ‘Trojan Horse’ Effort To Wield Greater Control

Conservative organizations are warning that a push by some liberals to increase federal deposit insurance is part of a broader strategy to centralize financial power in Washington at the expense of taxpayers.

Over a dozen right-leaning groups urged lawmakers on the House Financial Services Committee to reject efforts to raise the Federal Deposit Insurance Corporation’s (FDIC) reimbursement limit for depositors in the event of a bank failure, according to a coalition letter obtained exclusively by the 🏢Daily Caller News Foundation. They also object to proposals expanding the types of accounts eligible for coverage, including certain 💼Business accounts, arguing such changes would impose an unfair burden on taxpayers.

The signatories — including leaders from the Taxpayers Protection Alliance, Heritage Action for America, and Americans for Prosperity — criticized former Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, a close ally of Sen. Elizabeth Warren, for recent statements urging the government to expand its role in deposit insurance.

📺 Embedded media — coming soon

“We are broadly concerned that expanding government deposit insurance is a Trojan Horse for increased regulation on the banking sector, morphing financial institutions into government-sponsored enterprises like Fannie Mae and Freddie Mac,” the letter stated.