A question that have crossed the
minds of people who have a savings account, credit card, or checking account at
any bank is, what will happen to their account in case the bank closes? As your
bank works to grow the money you invested over time, there still comes a risk,
although a relatively minimal one. Banks can sometimes make a bad decision and
lose money. In the event that your bank would have to close, you will also lose
money you have invested. Thanks to a law passed by the United States government,
you may still recover money you have lost in cases of such an unforeseen event.
The Role of FDIC
It was reported that back in 1930s
during...
