Watch for Hurrricane Sandy on East Coast

That's for when bank gets broke, and have no way to pay back to those who deposit monies in them as oppose as data losses. Bank's responsible to make sure that data does not get lost.

Foxrac said:
I think it is FDIC?
Click to expand...
 
diehardbiker said:
That's for when bank gets broke, and have no way to pay back to those who deposit monies in them as oppose as data losses. Bank's responsible to make sure that data does not get lost.
Click to expand...
I understand. Whenever a bank loses records, it doesn't mean that it is broke since it doesn't lose money.
 
diehardbiker said:
That's for when bank gets broke, and have no way to pay back to those who deposit monies in them as oppose as data losses. Bank's responsible to make sure that data does not get lost.
Click to expand...

Oh I see, interesting.
 
Bank property insurance takes care of it. There is not just one insurance for everything. Usually have to buy several insurances for protections. Same with homeowner insurance, they don't cover car accidents, so separate insurance for car, same idea.

CrazyPaul said:
What about theft or fire?
Click to expand...
 
diehardbiker said:
Show me the law that requires bank doing back up please!

There isn't even one! So prove me.

And yes anyone can sue bank for not handling account properly, this is very rare. Do not confuse with Banking and Investment, they both are different. For instance, if you save retirement in IRA account and have paper with you and bank lost the information, failed backing it up, you CAN easily sue them. On other hand if you invest in stocks or other risk based account, then your on your own risk and can not sue bank.
Click to expand...

No I am not confused. I know perfectly what I'm talking about and I'm certainly not talking about investment. I don't know where you get the idea that I'm talking about investment. You must be confused.

I said that it's your risk to put your own money in any bank. Some banks are FDIC-insured and some are not.

About the federal law... here it is... for starter- http://www.federalreserve.gov/pf/pdf/pf_6.pdf
 
Just FYI - FDIC limit is $250,000.
 
Yes you are, and I'm tired of talking to you. The other day, you had no clue the meaning of cancelled checks you got yourself confused. Some banks have FDIC? ROFLMAO! Your making me laughing, all US banks are required to buy FDIC insurance for checking and savings accounts. Have a great day.

Jiro said:
No I am not confused. I know perfectly what I'm talking about and I'm certainly not talking about investment. I don't know where you get the idea that I'm talking about investment. You must be confused.

I said that it's your risk to put your own money in any bank. Some banks are FDIC-insured and some are not.

About the federal law... here it is... for starter- http://www.federalreserve.gov/pf/pdf/pf_6.pdf
Click to expand...
 
diehardbiker said:
Yes you are, and I'm tired of talking to you. The other day, you had no clue the meaning of cancelled checks you got yourself confused.
Click to expand...
in case you forgot, we were talking about 2 different things which was why both of us were confused.

diehardbiker said:
Some banks have FDIC? ROFLMAO! Your making me laughing, all US banks are required to buy FDIC insurance for checking and savings accounts.
Click to expand...
yup... such as local credit union banks....

diehardbiker said:
Have a great day.
Click to expand...
you too! :wave:
 
Back
Top