by Leif Jensen | Jun 14, 2023 | Banking |
I had a client asking me what happens when a bank fails, and you have a loan with them. If your bank fails, you still owe whatever outstanding loan balances you have. You’ll simply continue to make your loan payments to a new bank or FDIC-run intermediary. This...
by Leif Jensen | Jun 13, 2023 | Banking |
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation that supplies deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great...
by Leif Jensen | Jun 12, 2023 | General |
In the last statistics I can find is from 2019, there were 7 million US households do not have a bank account. So that is over 18 million people (2.6 per household) without a checking account out 328 million or 5% of the population in 2019. The reason are believed to...
by Leif Jensen | Jun 7, 2023 | Money Management |
The Glass-Steagall Act effectively separated commercial banking from investment banking and created the Federal Deposit Insurance Corporation, among other things. It was one of the most widely debated legislative initiatives before being signed into law by President...
by Leif Jensen | Jun 6, 2023 | Money Management |
The Gold Standard was a system under which nearly all countries fixed the value of their currencies in terms of a specified amount of gold, or linked their currency to that of a country which did so. The gold standard was the basis for the international monetary...
