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Will the FDIC Stay Solvent?

By J. Scott Orr, Parade Magazine
4/21/2009

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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.

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Print Date: 2/21/2020
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