How a bank covered by Depositors Insurance Fund can protect your cash

Real estate investor Matt "The Lumberjack Landlord" and his family.and start reading now.To better protect his cash, an investor bringing in six figures a month uses a"DIF member bank."

The FDIC is a government agency that provides insurance to banks. In the event that your bank fails — it's rare, butper depositor, per banking institution, per ownership category. That means, if you have $300,000 in savings and your bank goes under, you'd get $250,000 back and lose $50,000., including spreading your deposits across various FDIC-insured banks. You can also put some of your money in a credit union or add a joint owner, which doubles the amount insured.

"The FDIC covers you for the first $250,000, but DIF covers you for anything over that," the real estate investor, who

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Janet Yellen says the U.S. is ready to protect depositors at small banks if requiredTreasury Secretary Janet Yellen suggested depositors at small banks might be eligible for the same kind of emergency government aid extended to customers at two regional banks that failed this month. This is pure PR to deflect from her initial comments the other day that they will not be eligible as they don’t pose systemic risk. It’ll ultimately be up to her/Fed/President’s discretion and spoiler alert: won’t end well for little guy. This is dumb. We have monitoring/stress test safeguards that gop removed and now we are going to have deposits inflate in lesser regulated bank sectors?
Source: NPR - 🏆 96. / 63 Read more »

Janet Yellen says the U.S. is ready to protect depositors at small banks if requiredThe comments, made at a banking conference Tuesday, were intended to stress the U.S. commitment to protect the U.S. banking system – and the customers who trust their money in it.
Source: KPBSnews - 🏆 240. / 63 Read more »