adminWhat Happens If My Bank Fails?
If your bank fails, the first thing to keep in mind is that you won’t lose all your deposits. The Federal Deposit Insurance Corp. (FDIC) insures bank accounts up to…
What Is a Regional Bank? How It Differs from a National Bank
Regional banks, as defined by the Federal Reserve, are banks with $10 billion to $100 billion in assets. They’re referred to as regional banks because they’ve historically operated within a…
What Happened to First Republic Bank?
First Republic Bank (FRB) became the second-largest bank failure in U.S. history on May 1, 2023, with most of its business sold to JPMorgan Chase after federal regulators seized it.…
How to Join a Credit Union
Joining a credit union requires comparing different offerings, learning about membership qualifications, and funding your account. Unlike banks, which are open to the public, even the best credit unions often…
Cash Management Account vs. Brokerage Account
What Is a Cash Management Account? A cash management account (CMA) is a type of account offered by many financial institutions that combines features of checking, savings, and investment accounts.…
FedNow: What It Is and How It Works
FedNow is a new instant payment service launched by the Federal Reserve in July 2023. Using the FedNow Service, financial institutions can give customers real-time payment capabilities, executing transactions in…
What Happened at Credit Suisse, and Why Did It Collapse?
In mid-March 2023, Swiss bank UBS Group AG (UBS) bought rival Credit Suisse Group AG for 3 billion CHF (about $3.3 billion USD), a move intended to shore up the…
Can You Deposit Cash at an ATM?
If you’d prefer not to go inside a local branch, many financial institutions allow you to deposit cash directly into your bank account using an ATM. However, this feature isn’t…
How To Set Up Direct Deposit
Setting up direct deposit is as simple as filling out a paper or online form and submitting it to your employer. Then, your employer can make payments directly to your…
