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One of the local banks has changed it name like four times in the last 2 years. They went from Northeast Savings, to Shawmut to some company that had a blue clipper ship for a logo (I can't remember the name right now) to the current company. Doesn't make one feel too secure in doing business with them. What's going on in the banking business?

2007-08-01 05:17:43 · 1 answers · asked by debodun 2 in Business & Finance Other - Business & Finance

1 answers

It looks like the banks are too small so other banks keep buying them out. No you shouldn't be insecured b/c as long as you have less then $100,000 in your account then you are FDIC insured and whatever bank buys them out has to be FDIC insured.

2007-08-01 05:24:04 · answer #1 · answered by Leila24 2 · 0 0

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