Thank you. I am unsure what to do.
Looks like the US operations of TD Bank NA (it changed its name last year) are FDIC insured. Beyond suggesting that everyone keep their balances below the insured limits, I’m reluctant to give specific advice, since it’s hard to really tell what is going on from the publicly available information. I’m personally sitting tight with some money in a megabank, some in a credit union, and a little bit chasing higher yields.