Is My Money Safe in the Bank?
In recent months the FDIC has managed two of the largest bank failures in U.S. history. The collapse of Silicon Valley Bank (SVB) and Signature Bank happened shockingly fast. And First Republic wasn't far behind. Consumers have plenty of questions, as … Co...
The FDIC has $124B left. Can it protect 7.7 Trillion?
This is fine
Source: https://wallstreetonparade.com/2023/05/at-year-end-4127-u-s-banks-held-7-7-trillion-in-uninsured-deposits-jpmorgan-chase-bofa-wells-fargo-and-citi-accounted-for-43-percent-of-that/
If you wanna wait months to get your money sure it's safe. We shoukd all bigly overdraft the day our banks start faltering.
Overdrafts are a revenue stream for banks; they could stop them yet never have. Begs the question. . .who gets hurt? Your grocer, your gas station, anybody else that'll take your check?