FDIC insurance applies if the bank goes bankrupt (and has since the 1930s), ergo, I would still get my money back. It is not a matter of arbitration; banks ha

FDIC insurance applies if the bank goes bankrupt (and has since the 1930s), ergo, I would still get my money back. It is not a matter of arbitration; banks have gone bust frequently enough that there is a settled procedure for issuing insurance proceeds to depositors of a failed bank. Banks pay for FDIC insurance coverage as part of their capital requirements for being a bank.