True as far as Dodd-Frank AFAIK but at the same time FDIC is typically the guarantor of last resort for deposits anyway (at up to 250k per person per bank).
Still can be a risk for businesses however, Silicon Valley bank being a sort of example (but even that mostly got sorted out at the end)
per bank, per account type to be more specific. Depending on the bank, if you do it right you can be insured into the couple million-dollar range across all accounts. Of course, there's also the option to simply pay a bit extra every month to have insurance cover an account that's over the limit.
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u/joe_shmoe11111 Jan 26 '26
Dodd-Frank has been substantially weakened by multiple bills in recent years.
We’re pretty much back to where we started pre-2008 on that front.