Bank Roulette

If your bank fails, you probably won’t lose any deposits or face hassles getting to your money.

From Kiplinger’s Personal Finance:

At 98 and counting, the number of bank failures this year is beginning to rival the number of institutions shuttered in 1992, at the finale of the savings-and-loan crisis. Fortunately, when a bank goes belly up, most customers have a seamless transition to a new bank. The Federal Deposit Insurance Corp. currently covers $250,000 per depositor per bank. And most often, a failed bank is bought by another bank, assets are transferred immediately, and customers have uninterrupted access to funds in their accounts.

Read more here.