Quote from: RE on Nov 24, 2024, 02:35 AMThis should serve as a reminder to everyone that once you deposit your money in a bank, unless you have put it in a safe deposit box, it's no longer your money.The article seems to indicate that Fintech was the underlying problem...not necessarily the bank. The wife is quite adament about these services that will loan you money pre-paycheck, and institutions that "pretend" to handle your money when in fact they are playing their own games in the market and only design their marketing material to look like a government back entity.
RE
As usual it is a buyer beware....and the article didn't mention how many FDIC accounts had ever not been backed by the government when the bank itself suffered issues. Up to the stated limits anyway.