Is Your Bank Safe?

Posted on 01. Oct, 2008 by Money Talks News in Banking, Small Business, Video

The FDIC just released a list of more than a hundred troubled banks. Is yours one of them? More importantly… should you care?

The FDIC’s “Troubled Bank” List currently contains more than 100 banks which were recently revealed as having capital issues. But, let’s just keep things in perspective. According to the FDIC, during the banking crisis in 1987, that same list had more than 2,000 names on it.

That being said, there’s nothing wrong with monitoring your bank’s safety, especially when it’s so easy. The FDIC doesn’t release their list to the public, but they do analyze institutions which will provide you with a rating for your bank. Check out your bank’s Bankrate.com Safe & Sound Rating

If you’re still worried about your bank (better safe than sorry), make sure it’s FDIC insured, and read up on what that insurance means. Just remember the last banking crisis and keep things in perspective.