Skip to Content

Is my money safe? What you need to know about bank failures

KEYT

By ADRIANA MORGA
Associated Press

NEW YORK (AP) — Recent turmoil in the banking industry may have you worried about your money. Shares of PacWest, a small regional bank based in Los Angeles, plunged almost 40% after the company confirmed it may put itself up for sale. Anxiety over potential bank runs has sent shares of smaller banks tumbling. But there’s no need for concern if your money is in a bank insured by the Federal Deposit Insurance Corp. and you have less than $250,000 there. If the bank fails, you’ll get your money back. Nearly all banks are FDIC insured. You can look for the FDIC logo at bank teller windows or on the entrance to your bank branch.

Article Topic Follows: AP National News
ap
KEYT
national
world

Jump to comments ↓

Author Profile Photo

The Associated Press

BE PART OF THE CONVERSATION

News Channel 3-12 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content