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Bill to extend fed insurance plan dies in Senate

By Jim Abrams
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WASHINGTON (AP) — A federal program giving unlimited insurance guarantees to some no-interest bank accounts, enacted at the height of the financial meltdown, will die out at the end of the year following defeat of a Senate plan to extend it.

Senate Majority Leader Harry Reid, D-Nev., led efforts to add two more years to the life of the Transaction Account Guarantee program, but Republican opponents used a procedural vote on the bill’s budgetary impact to effectively kill it.

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