Category: FDIC

Privacy Policy: Notice of Privacy Practices for Consumers

Privacy Policy: Notice of Privacy Practices for Consumers

What did you do with the last privacy notice you received from a financial institution or creditor?  I’m going to hazard a guess you glanced at it then proceeded to dump it in the trash bin or file it away.  I understand these privacy notices have a lot of small print and are as dry […]

May 17, 2016 | By More
FDIC Resources for Consumer Protection

FDIC Resources for Consumer Protection

The topics that fall under the term financial literacy are many.  One issue we feel is important to include beneath the financial literacy banner is the principle of consumer rights.  When you understand what consumer rights you have, these can impact your money life in a positive way.  You can truly be empowered when it comes […]

February 2, 2016 | By More
Deposit Insurance Coverage Banker Videos You Should Watch

Deposit Insurance Coverage Banker Videos You Should Watch

In my banking days, I recall the many questions customers had regarding FDIC insurance.  Often, consumers understand that the FDIC is in place to keep their money safe.  However, beyond the 30,000 feet view understanding, the FDIC, its history and purpose, and most importantly, how it impacts the balances you keep at a financial institution, […]

January 26, 2016 | By More
Your Bank Has Failed, Now What?

Your Bank Has Failed, Now What?

Is your money safe in the bank?  What happens if the bank where you keep your hard earned money failed?  Can you access your money?  Every money smart consumer should be able to answer these questions.  Unfortunately, for many bank customers, they don’t have a clue.   But, we want to shed some light on this […]

June 12, 2015 | By More
FDIC Deposit Video – Explains How It Works

FDIC Deposit Video – Explains How It Works

Understanding the basics about the U.S. banking system can be valuable when it comes to your personal finances.  As some of you may already know, the FDIC or Federal Deposit Insurance Corporation is a key player in keeping your money safe at a bank.  (Of course, this safety only applies to a FDIC-insured bank).  Today, […]

May 19, 2015 | By More
What accounts the FDIC does NOT cover?

What accounts the FDIC does NOT cover?

There are probably times when the phrase “Ignorance is bliss” is a good thing.  Let me give you just two examples, all of which I’m offering from personal experience. ●  You’re on vacation enjoying delicious food and snacks and a scale is nowhere in the vicinity. ●  You’re driving down the road with the windows […]

October 30, 2013 | By More
Are Virtual (Online-Only) Banks FDIC Insured?

Are Virtual (Online-Only) Banks FDIC Insured?

We have talked before about the importance of maintaining your money at FDIC-insured banks.  [See What Does FDIC Mean?].  As you recall, the FDIC insures certain depository accounts should the bank you’re with fail.  [See What accounts does the FDIC cover?]  As technology has become more sophisticated, banking services and products have transitioned to the […]

October 29, 2013 | By More
What accounts does the FDIC cover?

What accounts does the FDIC cover?

The other day while watching the news, it showed an apartment complex that had been practically burned to the ground by fire.  Thankfully no one was physically harmed, but the personal and financial loss was devastating in itself.  It brought to mind the old standby example the FDIC (Federal Deposit Insurance Corporation) uses when explaining […]

October 18, 2013 | By More
How Are Banks Different from Other Businesses?

How Are Banks Different from Other Businesses?

When I first started working in the business world, my boss at the time gave me some sound advice.  And, if you’re a student reading this Post today, I particularly wish to pass on this tid bit to you.  She said when you graduate from college, make certain and pick an industry you’re going to […]

September 11, 2013 | By More
New to Banking: 3 Things You Need to Know

New to Banking: 3 Things You Need to Know

Do any of you like a good mystery?  I have to tell you one item on my bucket list is participating in a mystery weekend event at a hotel or on a train.  Have any of you done that before?  I’ve always thought that would be really fun, particularly if you go with a group […]

August 15, 2013 | By More