Bank failures ran rampant during the Great Recession, but thanks to the Federal Deposit Insurance Corp. (FDIC) and, for credit unions, the National Credit Union Administration (NCUA) many of the losses were covered.
For accounts with less than $250,000, these federal agencies insure consumers’ money, but unhealthy banks come with other problems, said Ken Tumin.
Read the full article in the Feb. 15 issue of Navarre Press. Visit www.navarrepress.com/subscribe to view subscription options. Sign up to receive the online edition of Navarre Press for 30 days free!
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