Big name investors like Bill Ackman are calling on the FDIC to insure all deposits, but that would only cost banks' customers more, former FDIC chair says

• Big name investors have called for the FDIC to extend coverage to all bank deposits.
• But that would only cost banks' customers more, the former FDIC chair said.
• US Treasury Secretary Janet Yellen has also shot down the idea of blanket deposit insurance.

Big name investors on Wall Street have been calling for the Federal Deposit Insurance Corporation to secure all bank deposits to prevent more failures – but that's a move that would only cost banks' customers more, according to former FDIC Chair Jelena McWilliams.