RISDIC, however, did not learn from the mistakes of other states. To the contrary, it even increased the maximum deposit it would insure. When it was founded, the per-account maximum to be insured was $40,000, but that number increased to $500,000 in late 1985, with no limit on some accounts. When RISDIC lost some of its most stable banks, it began insuring more weak institutions. By the late 1980s, RISDIC was riddled with problems. It insured primarily those institutions that were unable to secure federal insurance, guaranteeing large sums of money at weak banks. Concerns had been raised about RISDIC for years before its collapse. Federal regulators, the Federal Reserve Bank of Boston, and others issued warnings as early as 1985. The state attorney general, Arlene Violet, made several attempts to draw attention to RISDIC's vulnerability without success. When Violet entered office, she began attending bank board of incorporation meetings and was struck by the way the group charged with overseeing the state's banking system seemed to allow favors to politically connected people. After seeing problems with the insurer's financial reports, she tasked members of her white collar crime unit with producing a report about the company. The finished report, completed in December 1985, highlighted financial risks as well as various conflicts of interest involved in its management and regulation. It led to the proposed bill in 1986 that would require RISDIC-insured institutions to obtain federal insurance, effectively closing the insurer. It was supported by the DiPrete administration but failed in the state General Assembly. The report was not made public, but in the days after the bank closure, it was leaked to the Providence Journal, which printed it in its entirety. A significant problem was lack of oversight. Members of RISDIC's board of trustees were primarily managers of the institutions it insured. There were no formal rules requiring any outside board members, resulting in only three members appointed to represent the public and fifteen with conflicts of interest, representing insured banks. In the late 1980s, government budget cuts moved the responsibility for conducting examinations of the insurer from the Department of Business Regulation (DBR) to RISDIC itself, further reducing outside and independent oversight. In addition to being poorly regulated, it failed to abide by standard industry practices and although it formally adopted the standards of the National Association of Share Insurance Corporation, it did not actually implement them effectively.