Netbank Fails

By
Real Estate Agent with QUEST REALTY SERVICES
The recent collapse of online bank NetBank has left a lot of people nervous. It is the biggest bank failure since the early 1990s. While the cost to taxpayers is unknownr, the FDIC should cover everything. When this type of thing happens the federal regulators walk in, they try to package the bank's assets and get them in somebody else's hands.  The transition from NetBank to ING has generally been smooth for customers. Those who were most at risk of losing money were people with more than $100,000 in their accounts. It's always better to be safe and only invest less than $100,000 in any bank. That way your money is protected.  

Comments (1)

Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F
There will probably be a lot more bank and mortgage company failures before things start to recover.
Dec 22, 2007 09:47 AM