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April 21, 2009 - Since 2008, at least 46 U.S. banks have failed, costing $20 billion. The FDIC — an independent government agency charged with securing individual deposits up to $250,000 — has covered these losses and set aside $22 billion to pay for bank failures expected this year. The agency has an additional $19 billion in reserves to cover nearly $5 trillion in deposits….
Click Here to read the rest of the story, including legislation underway to make the FDIC even safer.
How have your banking practices changed since the beginning of the recession?