Is Your Money Safe During Bank Failures?

NTD Newsroom
By NTD Newsroom
March 21, 2023NTD Business

With some banks failing, many are worried about their money.

In fact, nearly 200 banks across the country are at risk, according to a new study from the Social Science Research network. If many of the big uninsured depositors withdrew, they may be in serious trouble.

President Joe Biden has told the country the banking system is safe and that people’s deposits will be there. Is that the case? Financial professionals NTD talked to generally agree. Business adviser Tatiana Sawyer says banks fail all the time. It doesn’t mean everyone is in danger.