Bank Failures: Protecting Your Money

Bank Failures in the U.S.: Understanding the Risks and ProtectionsThis episode delves into the rare yet impactful world of bank failures in the U.S. When a bank fails, the FDIC steps in to protect depositors, insuring funds up to $250,000 per account holder, per institution, for each ownership category. The FDICs role is crucial as uninsured banks can leave customers with unsecured debts. While bank failures are less frequent now, recent events like the collapse of First Republic Bank and Silicon Valley Bank serve as reminders of their potential impact.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.