Per the article: “It’s your money, and generally, you have the right to withdraw...”
I don’t think that’s true now-s-days. Correct me if I’m wrong but it was written in the legislation that your deposits are actually loans to the bank, making you an unsecured creditor.
It was done after the 2008 financial crisis by the G20 and/or Dodd/Frank.
SVB was the final bailout and that was because the depositors were ultra rich. After that, only bail-ins.
Again, correct me if I’m wrong (and I hope I am!!).
My understanding is that you are correct.