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The FDIC insures up to $250,000 per depositor, per insured bank. But the FDIC claims process only begins after a bank failure (likely caused by a run on the ban
by samdcbu 4y ago
The FDIC insures up to $250,000 per depositor, per insured bank. But the FDIC claims process only begins after a bank failure (likely caused by a run on the bank). https://www.fdic.gov/analysis/quarterly-banking-profile/fdic-quarterly/2010-vol4-2/fdic-quarterly-vol4no2-claimsarticle.pdf https://www.fdic.gov/analysis/quarterly-banking-profile/fdic...
- krferriter 4y agoIs it true that if I had $50K in a bank, for the sake of example let's use Bank of America, and the bank just straight up loses my account and loses track of the fact that I had that money with them, FDIC does not ensure I get my money back? Would I just be reliant on the bank having good will towards me and giving me my money voluntarily? Is there any consumer protection that actually protects the consumer against business malpractice like this if FDIC doesn't?
- astrange 4y agohttps://www.helpwithmybank.gov/who-regulates-my-bank/index-who-regulates-bank.html https://www.helpwithmybank.gov/who-regulates-my-bank/index-w...