adminWhat Happened to Signature Bank?
Signature Bank was shut down on March 12, 2023, after depositors withdrew large sums of money on the heels of the collapse of Silicon Valley Bank (SVB). Regulators feared continued…
How to Make Mobile Check Deposits
Millions of Americans regularly use mobile banking, including the ability to deposit checks with a mobile device. Depositing checks with a smartphone, a tablet, or another mobile device is fast,…
What 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 the American Consumer Council?
The nonprofit American Consumer Council (ACC) is a gateway to credit union membership for many Americans. At its core, the council focuses on consumer education, advocacy, and financial literacy. However,…
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.…
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…
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.…
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…
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…
