> …checking and savings accounts are only IOUs… That are guaranteed by the US Government up to $250,000. While the average person may not know the details, the

> …checking and savings accounts are only IOUs… That are guaranteed by the US Government up to $250,000. While the average person may not know the details, the average person’s faith in the banking system is well founded. That’s why these “alt-banks”, which avoid FDIC or NCUA coverages, are so problematic.