Tenants may also want to extend the lease. In either case, a lease extension letter should be written to formally request an extension on the lease. The landlord may use this letter to raise the rent or add new terms to the lease, and the tenant may use the letter to request repairs or other considerations.
Although few depositors realize it, legally the bank owns the depositorâs funds as soon as they are put in the bank. Our money becomes the bankâs, and we become unsecured creditors holding IOUs or promises to pay.
Understanding Deposit Insurance. The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has lost a penny of FDIC-insured funds. FDIC insurance covers all deposit accounts, including: