• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

Bank Accounts

The old cliché used to be “Safe as money in the bank,” but with an increase in recent years of the number of banks failing, people are starting to ponder just what their FDIC insurance protection covers if their bank goes under. According to FDIC, almost one-third of all bank deposits are not covered by FDIC insurance, thereby putting many people in serious jeopardy should their bank fail.

The Federal Deposit Insurance Corporation believes that three classes of people are uncovered by insurance. The first class is made up of those people who are aware that their funds exceed the federal insurance protection levels, but have faith in their own particular bank. The second class is made up of those people who, quite frankly, were given the wrong information by their bank as to their coverage. The third class is made up of those people who just do not understand the FDIC rules.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint