If you have a bank account – or even if not – you’ve likely heard of FDIC insurance. FDIC insurance is deposit insurance overseen by the Federal Deposit Insurance Corporation, a federal entity created by the Banking Act of 1933. FDIC insurance guarantees the safety of deposits in checking, savings, and CD accounts held with FDIC
Do you know what to do if your bank fails? The sudden implosion of Silicon Valley Bank and Signature Bank has millions of once-complacent asking this question. The truth is, banks can and do fail, often without any prior outward signs of trouble. Hundreds of banks went out of business during the savings and loan
What happened to Silicon Valley Bank? The short answer is, it failed after a classic bank run during which depositors rushed to withdraw cash while they still could. The long answer is quite the read.
Have you ever wondered what an APR really is? Learn how to calculate it and — most important — how to use it to compare the cost of credit.
Have you ever checked your bank statement and noticed something doesn’t look right? Rare though they are, bank errors can happen for a variety of reasons. But if you know what to look for, they’re not tough to spot.
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