What would you do if I told you that Ally Bank or ING Direct were offering an awesome *NEW* account? What are the awesome terms, you ask? (- 2%) Regardless of how much you put into this new account, you're guaranteed to lose 2% each year. Who, on Earth, would invest their money in such an …
fdic insurance
Understanding FDIC Insurance
Nobody likes to lose money. Unfortunately, between 1929-1933 many innocent investors lost loads of cash due to a series of bank failures. Because of this, the Federal Deposit Insurance Corporation was established. In 1934, the insurance limits began at $2,500, rose to $40,000 in 1974, and have since …
