After Your Bank Fails James Roth | ISBN : 1-935910-04-3

After Your Bank Fails

Author: James Roth

Publisher: Catoctin Creek Consulting LLC

Publication Date: 03 November, 2011

ISBN: 9781935910046

Pages:

Subjects: Business

Available as: , E-Book - , 978-1-935910-04-6

Description:

What happens to bank customers in a bank shutdown? Common wisdom says "nothing" but this is a myth that only applies when another bank is found to take over all deposits and operations in the failed bank. Deposit insurance is both limited and highly restrictive with conditions few people are even dimly aware of. This short monograph explores all the effects that flow from a Federal Deposit Insurance Corporation (FDIC) bank takeover and it identifies which bank customers are most at risk of losing access to their money or losing their money period. It also examines the FDIC's "rescue" capabilities given its tiny Bank Insurance Fund, its lack of funding, and its new forays into high risk joint venture LLC real estate businesses.