Bob Michele (JP Morgan's CIO) on Bloomberg this morning talking about the Fed's emergency BTFP interventions & the liquidity crisis in banks.
He also specifically mentioned Truist Bank 😬
Truist Bank has over $500 billion in assets & could be on the verge of failure along with Charles Schwab
(twitter.com)
💥 BANK COLLAPSE 💥
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My paychecks are drawn on Truist Bank and my thrift stores acct is with [them] (I'm the store mgr). Truist is formerly SunTrust here in Florida, changed over a few yrs ago
Same story with BB&T. Now are a Truist owned acquisition.
Move your money off of Truist. Get in a Federal Credit Union and/or hold some money on the side.
If you've been on here awhile you should be aware that the banks are going to fail and its a risk to have your money looked after by them.
My paychecks are drawn from them... I haven't banked since 2003 ;)
Smart man!