Sorry, I should have been more. ABOVE the 250k level is what they aren’t LEGALLY required to cover. Banks that do that and are FDIC insured are doing that on their own.
Sorry, I should have been more. ABOVE the 250k level is what they aren’t LEGALLY required to cover. Banks that do that and are FDIC insured are doing that on their own.
Steve@communick.news 6 days ago
Yes that’s just reiterating what I literally said originally.
There aren’t different tiers of FDIC insurance. The banks aren’t choosing to paying for extra coverage. The FDIC is a federal program. Yes the banks pay into it. It’s required by law that they do. But the FDIC decides on it’s own if it will cover more than $250k. And they have, for every bank collapse, no matter the size, at least since the late 90s.