FDIC’s royalty plan cause for concern

While we’ve heard plenty about businesses hit hard by the Great Recession, we haven’t heard as much about the federal agencies that have struggled as well. The Federal Deposit Insurance Corp., the agency charged with protecting depositors’ money, has had a rough go of it.

The agency’s cash fund, maintained to cover depositor losses when banks fail, plummeted into the red in 2009, drained as it repaid depositors at failed banks.

Like everyone else, the FDIC is making a painfully slow recovery from the financial crisis. It’s back in the black, but according to a memo dated March 28, 2013, it is…