You open a new bank account at eastside savings. You see fdic stickers around the bank, and the teller specifically mentions that eastside savings is fdic insured. A few months later, you hear on the radio that eastside savings is struggling to stay in business. Your savings balance is $500. What would happen to that money if eastside savings failed?.

Question

05-10-2022
Business

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You open a new bank account at eastside savings. You see fdic stickers around the bank, and the teller specifically mentions that eastside savings is fdic insured. A few months later, you hear on the radio that eastside savings is struggling to stay in business. Your savings balance is $500. What would happen to that money if eastside savings failed?.

Sagot :

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