ncbill12

IndyMac Failure - Test of FDIC Insurance

"less people were making sure they were insured. And so let’s be real - most of the ignorant depositors will remain that way regardless of whether they hear this story."

I just helped a relative yesterday move their insurance settlement (well over the $100,000 limit) to a different bank, the latter which participates in cdars.

The cdars program spreads out up to $50 million to different banks so the entire amount is covered under FDIC insurance:

www.cdars.com/why-cdar...

The bank I moved it from (non-cdars) was not pleased.