Deposits on a failing bank are guaranteed through fees collected by the FDIC. The FDIC can probably pay these, or with some help from the general fund.
The big question is what happens to all the other obligations of BofA. Will these get paid by the government as BofA gets unwound? If so, then having FDIC insured deposits is meaningless, as they will have to tax you in order to get the money to pay off the derivatives, or print money and pay the derivative payoffs with inflated money, making the value of the guaranteed deposits worthless through inflation.
They will claim that the right hand paid everything, but the left hand will be picking your pockets.
But if that were to happen it wouldn’t be just the BofA account holders, it would be everyone. If FDIC defaults, essentially the US government defaults and all banks will be closed shortly thereafter as they’ll all be cleaned out - one way or another.