The national unbanked rate is at 4.2 percent, which equals 5.6 million households according to the 2023 FDIC National Survey of Unbanked and Underbanked Households. The previous lowest rate was 4. ...

FDIC-insured depository institutions reported a return on assets (ROA) ratio of 1.16% and aggregate net income of $70.6 billion, an increase of $3.8 billion (5.8%) from the prior quarter. An increase ...

If a money market account is with an FDIC-insured bank, or NCUA-insured credit ... For instance, if a money market account earns 2 percent APY and the annual inflation rate is 4 percent, the ...

The FDIC initially covered accounts up to $2,500 for each depositor at an insured institution in 1934 ... the first $10,000 of each depositor, 75 percent coverage of the next $40,000 of deposits ...

Fintech apps are not the same thing as FDIC-insured banks. Neobanks are fintech ... it’s difficult to do profitably.” As many as 6 percent of Americans were living without a bank account ...

Without insurance, their banking customers would have lost all of their funds. Working directly with an FDIC-insured institution is the simplest way to ensure your money is safe. However ...

The FDIC is a government agency formed during the Great Depression to restore faith in U.S. banking institutions. As of December, more than 99 percent of U.S. deposit accounts held less than $ ...

When Catherine Bell put her money into Yotta, a fintech that promised savers a chance to win money just by saving more in its FDIC-insured accounts, it seemed like a no-brainer. The Federal ...

And so they place their money in various accounts at banks insured by the FDIC, the Federal Deposit Insurance Corporation. This incredibly important, independent agency of the United States ...

The short answer is yes, money market accounts are insured by the FDIC like other deposit accounts. If you’re considering opening a money market account, it’s important to understand how this ...