How a bank failure might affect you
July 13, 2008
The takeover by banking regulators of IndyMac Bank has been well chronicled and was caused in part by panicked depositors withdrawing their funds.
Any funds in excess of $100,000 in one bank is not insured by the FDIC. The best thing you can do is to spread your funds among several banks and stay under the limit.
Technorati Tags: IndyMac Bank, FDIC
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