11/06/2024
Hey! Do you remember Silicon Valley Bank?
Have you ever heard of Lindsey Oklahoma?
Think back to 2023 when SVB as well as Signature bank failed and the uninsured (over the the $250,000 FDIC limit) were made whole.
That is when Senator James Lankford From Oklahoma asked Janet Yellen "Will the deposits in every community bank in Oklahoma, regardless of their size, be fully insured now?"
Well... of course she said that NO that was absolutely now the case.
So, a few weeks ago when a bank in Oklahoma failed.... the deposits that are FDIC insured are unaffected.
It is expected that 50% of the uninsured deposits will be made available to depositors.
