Should I pull my money out of the bank? What to know about bank failures | CNN Business

Is my money safe? That’s the question on many bank customers’ minds after the stunning failures of Silicon Valley Bank and Signature Bank in the past week, along with the current problems at Credit Suisse — though the Swiss bank’s issues are very different from what took down the two US regional banks. A bank run on Silicon Valley Bank led the Federal Deposit Insurance Corporation to take control of the bank last Friday in the second-largest bank failure in US history.

“I don’t think people should panic, but it’s just prudent to have insured deposits versus uninsured deposits,” Hatfield said. But the collapse is a good reminder to be aware of where your money is held. “[It’s] is a wake-up call for people to always make sure their money is at an FDIC-insured bank and within FDIC limits and following the FDIC’s rules,” said Matthew Goldberg, a Bankrate analyst. The FDIC has different resources on its site.

Paying off all your consumer debt at this point with the financial institutions collapsing, makes about as much cents is paying your bar tab on the titanic after it hit the iceberg

all the ridiculous fees, outrageous CEO salaries and service charges piled up upon service charges, while paying out ridiculously low rates for how many decades? nobody in this country should feel guilty about taking all their money out of a financial institution. Do it now.

Well Biden has just Nationalized the US Banking system, at least the insurance side of it anyway by guaranteeing all the deposit even those of Communist countries like China !

I need to watch this!! IF the Left says all is well, we KNOW we have a problem. My tried and true litmus test.

How come CNN hasn't been to the southern border? How come CNN does not report on actual news that people are interested in? I get informed Everyday by Newsmax and Fox News. Because CNN has turned more political hatred towards Trump and the Republicans and I'm a Republican

If DeSantis doesn’t come out and publicly denounce what the radical left is doing and put his support behind Trump, he is done with me and millions of others

How much does the fed owe to China.

Ksh1,000,000,000,...

No. But a more pressing question is 'Is my money REAL?'

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Credit Suisse's $50 billion lifeline calms bank panic | CNN BusinessAn overnight scramble to shore up confidence in Credit Suisse calmed panicked investors on Thursday with shares in Switzerland's second-biggest bank shooting higher in early trade. Thats the clearest sign that Credit Suisse is in very serious trouble I don’t think investors are calm at all.
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European Central Bank faces 'unenviable choice' on interest rates due to banking woes | CNN BusinessUntil yesterday, the European Central Bank was widely expected to hike interest rates by half a percentage point Thursday in its fight against inflation. But the market turmoil of the past 24 hours could force a rethink.
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Mortgage rates drop in wake of bank failures | CNN BusinessMortgage rates dropped this week in the wake of several bank failures, reversing course after rising half a percentage point over the past month. But longer-term uncertainty is expected to hamper many homebuyers and keep the cost of buying unaffordable for many. Biden: the rich need to pay their fair share. Also Biden: bails out the rich’s bank People tried to buy my home, answer was hell no. Pay more interest and higher price for another home. Indian lives matter! Vietnam Lives Matter! Korean life matters! Japanese life matters! Afghanistan Lives Matter! Iraqi lives matter! Libyan lives matter!....
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European Central Bank sticks to its rate-hiking guns, says banks 'resilient' | CNN BusinessThe European Central Bank (ECB) stuck with its plan to hike interest rates by half a percentage point Thursday, judging that inflation poses a bigger immediate threat to the economy than turmoil in the banking sector.
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Silicon Valley Bank's former parent company has filed for bankruptcy protection | CNN BusinessSVB Financial Group, the company that owned the failed Silicon Valley Bank until the US government took it over last week, has filed for Chapter 11 bankruptcy protection. Woke go broke... Get woke, go broke
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