Having more than $250,000 in the bank may seem like more of a blessing than a curse. After all, being able to stash away more than a quarter of a million dollars is certainly indicative of some level.
Having more than $250,000 in the bank may seem like more of a blessing than a curse. After all, being able to stash away more than a quarter of a million dollars is certainly indicative of some level.
On Friday, March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (“SVB”) and appointed the Federal Deposit Insurance Corporation.
Most peoples' banks are covered by the Federal Deposit Insurance Corporation (FDIC), which was created to keep the public's confidence in the U.S. financial system.
The increase in interest rates, and the contraction of the money supply, which are intended to tame inflation, have also had significant negative consequences. Those consequences.