The Latest Breaking News from FDIC

Got $5,000 Sitting at Home? Here’s What It Could Be Earning Instead

Imagine having $5,000 tucked away in a drawer, locked in a home safe, or sitting in a checking account that earns almost nothing. It might...

Saving Advice · 1h ago

You Have $100,000 Sitting in Cash — How Much Is Too Much?

Having $100,000 in cash can make a bank balance look wonderfully reassuring. It can also leave a saver facing an awkward question: How much of that money actually needs to sit there? The answer depends on upcoming expenses, job security, debt, investment goals, and how quickly the money might need…

The Free Financial Advisor · 3h ago

How To Choose Your Next Bank

Choosing your next bank starts with a surprisingly unglamorous question: What do you actually need your bank to do?

The Free Financial Advisor · Oct 7

What Happens to a Joint Bank Account When One Spouse Dies?

When a spouse dies, the checking account may seem like one financial detail that should be simple: both names are on it, so the surviving...

Saving Advice · Sep 19

What Happens If a Company Deposits Money Into Your Account by Mistake?

A surprise deposit can make a bank balance look much healthier, but money that a company deposits into your account by mistake does not automatically become yours. A payroll department might enter the wrong account number, a business might send a payment twice, or a company could simply make a…

The Free Financial Advisor · Sep 17

Fed Raises Rates a Quarter Point, First Increase Since 2023

The Federal Reserve raised its benchmark interest rate by a quarter percentage point on Wednesday, the first increase since July 2023. The Federal Open Market...

Saving Advice · Sep 16

Your Savings Account Rate Could Change After September 16—How Fast Can Your Bank Cut It?

If you’ve been enjoying a better return on your savings, September 16 is a date worth watching. The Federal Reserve is holding its September policy...

Saving Advice · Sep 15

Federal Regulators Double Bank Asset Threshold for 18-Month Examination Cycle to $6 Billion

Some community banks may now go six additional months between regularly scheduled federal on-site examinations after regulators doubled the asset threshold for institutions eligible for an extended examination cycle.

The Free Financial Advisor · Sep 14

What Actually Happens to the Money in Your Bank Account When You Die?

When someone dies, the money sitting in a checking or savings account does not simply disappear, and the bank does not automatically hand it to the family member who seems most likely to inherit it. What happens next depends heavily on how the account gets titled, whether the owner named…

The Free Financial Advisor · Sep 14

Are You Being Underpaid on Your Savings? The Latest FDIC Numbers Give You a Benchmark

A savings account can look perfectly respectable until its interest rate gets compared with what other banks pay. The FDIC’s latest national average puts the typical savings account at just 0.38%, while competitive high-yield savings accounts currently offer rates around 4% or more.

The Free Financial Advisor · Sep 13