The FDIC Closes Four New Banks

Since last summer’s high-profile bank failures of multi-billion dollar, IndyMac Bank and Washington Mutual Bank, most of the banks which have closed have been smaller in size and generally banks serving local markets. The FDIC has closed four more smaller-sized banks last week as the pace of bank failures in the United States has begun to [...]

New FDIC Insurance Law Explained

The FDIC website has a detailed description of the new insurance law which was enacted as part of the Economic Stabilization Plan. Listed below is the FDIC’s description of the new law:
FDIC Deposit Insurance Coverage
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of [...]

McCain and Obama Suggest Raising FDIC Insurance Limits

The presidential candidates agree on at least one issue with both McCain and Obama strategists promoting an increase in the FDIC insurance deposit limit as part of their candidates financial reform platform. Both candidates agree that the insurance limit should be increased from $100,000 to $250,000.

The last time the insurance limit was increased was 1980.

Online Bank Rate Deals for 2008

The last few hours of 2007 are dwindling away, but online banks continue to offer their rate specials on credit cards and deposits in order to find new customers. The deals today include:
Credit card purchase cards as low as 7.99% APRCredit card balance transfer cards with 0.00% for six months on transfersCountrywide Bank 5.30% APY [...]