"Consumer Financial Protection Bureau Director Rohit Chopra is asking Congress to reconsider deposit insurance limits after the failure of an Oklahoma bank will likely cause some to take a haircut on their deposits.

The tiny First National Bank of Lindsay in Oklahoma was shuttered in October after the Office of the Comptroller of the Currency found "false and deceptive bank records and other information suggesting fraud." At the time, the Federal Deposit Insurance Corp. said that it would make 50% of uninsured funds available to depositors."