Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC

Re:Joint Statement by the Department of the Treasury, Federa... by Lionga on Monday March 13, 2023 @04:09AM (#35132578)

But someone that has over 250K in a bank can be expected to understand that FDIC insurance is (or better was, effective now it is unlimited) 250K, right?

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Re:Joint Statement by the Department of the Treasury, Federa... by xapata on Wednesday March 15, 2023 @02:09PM (#35172394)

First, no. My wife earns more than me, but phrases like "FDIC insurance" make her eyes glaze. She'd ask her parents, "What do you do?" They'd answer, "Keep cash under your mattress."

Second, what does that really mean? How to evaluate the quality of your bank isn't typically discussed by personal finance teachers, beyond looking at the interest rates and fees.

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