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Sorry, FDIC Can't Guarantee Interest on That CD

When selling failed banks, Feds allow buyers to slash expected payout

By Harry Kimball, Newser Staff

Posted Nov 4, 2009 9:38 AM CST

(Newser) – There’s a little-publicized part of your bank deposit the FDIC doesn’t insure, and it’s driving scrupulous savers up the wall. The logic is simple enough: When the FDIC takes over a failed bank and resells its assets, it allows buyers to alter... Read full story »

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Sorry, FDIC Can't Guarantee Interest on That CD

When selling failed banks, Feds allow buyers to slash expected payout

CDs • certificates of deposit • FDIC • bank failure • interest rates • assets • life savings

MOST POPULAR STORIES

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More Newser Stories

Bank Failures Far From Over

Failures down in 2011, but weak banks are taking longer to recover or die

FDIC Launches 50 Criminal Inquiries of Failed Banks

But it won't name names yet

FDIC Closes Bank No. 28: NYC's Park Avenue Bank

Latest to fail had about $1B on the books

FDIC Seizes 4 More Banks

Tally hits 26 this year; pace of closures expected to increase in coming months

Lending Falls at Fastest Rate Since 1942

Boatload of bank failures likely in 2010

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