A taboo is a vehement prohibition of an action based on the belief that such behavior is either too sacred or too accursed for ordinary individuals to undertake.[1][2] Such prohibitions are present in virtually all societies.[1] The word has been somewhat expanded in the social sciences to strong prohibitions relating to any area of human activity ...
How to max out your clients' FDIC coverage. $250K limit can easily be bumped up to $2M; CDARS, brokered CDs gaining in popularity. U.S. investors seeking safety in cash amid the market turmoil can take advantage of several methods to insure millions above the Federal Deposit Insurance Corp.'s $250,000 limit.
In these rare cases, your money is protected as long as a bank is federally insured. That means backing by the Federal Deposit Insurance Corp. (Credit unions offer this security as well, through the National Credit Union Administration.) Hereâs a look at what the FDIC is, what it covers and how it guards your hard-earned money. The idea behind FDIC insurance. The FDIC was established in 1933 in response to the many bank failures during the Great Depression. It was meant to (and still does) promote public confidence in the banking system by insuring consumersâ deposits. In 2015, eight banks failed, but during the Great Recession, dozens went under. Still, since the creation of the FDIC, not one cent of insured deposits has been lost. Banks are not insured by default; like most forms of insurance, it comes at a cost. But you donât pay a monthly fee, nor do your tax dollars foot the bill. The bank pays the premiums. The FDIC insures up to $250,000 per depositor, per institution and per ownership category. FDIC insurance covers deposit accounts â checking, savings and money market accounts and certificates of deposit â and kicks in only in the event a bank fails.