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GOP Congressman Introduces a Bill to Prevent Run on the Banks

A GOP lawmaker has offered legislation calling on Congress to avoid any Cyprus-like confiscation of personal savings accounts. 

The measure from Rep. Billy Long (R-Mo.) was inspired by the banking crisis in Cyprus, which sent shivers through the markets this week when it considered assessing a levy against all bank deposits to help pay for a bailout of its major banks. 

Source: The Hill. Read full article. (link)

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