[UCANSEE2]

I should have stated it clearly.

I put $30,000 in the bank, and then (not instantly but a week later) go to withdraw $100.

You say it’s the law, they have to pay. If they don’’t, the bank can be closed. In which case I don’t get the $100.

You say the bank president and board can be jailed. In which case I don’t get my $100.

I assume your next recommendation would be the FDIC. Some banks have been very quietly dropping the FDIC coverage.

What recourse does one have then ?

[Rockingham]

The FDIC may close a bank but they arrange for a successor to assume and pay the depositors. The transition is done so that it is almost seamless. In years past, I was involved as a lawyer in several FDIC actions, including the removal of bank officers.

As for banking your deposits where there is no FDIC insurance, ponder the Latin phrase "caveat emptor" -- let the buyer beware.

[Vermont Lt]

Banks are not dropping FDIC AND dealing with the Fed.

Anyone telling you that does not understand how banks work.