Comments on: FDIC Myths, Legends and Misconceptions. http://simpledebtfreefinance.com/fdic-myths-legends-and-misconceptions/ A Simple Approach to Getting Out of Debt and Into Wealth Fri, 18 May 2012 02:11:18 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Wells http://simpledebtfreefinance.com/fdic-myths-legends-and-misconceptions/#comment-4216 Wells Fri, 26 Jun 2009 20:09:57 +0000 http://simpledebtfreefinance.com/?p=146#comment-4216 Wow! what an idea ! What a concept ! Beautiful .. Amazing Wow! what an idea ! What a concept ! Beautiful .. Amazing

]]> By: Joe http://simpledebtfreefinance.com/fdic-myths-legends-and-misconceptions/#comment-240 Joe Fri, 24 Oct 2008 00:23:06 +0000 http://simpledebtfreefinance.com/?p=146#comment-240 Regina, It sounds like that adviser was trying to sell an annuity! As the FDIC website states, they are required by law to provide the funds "as soon as possible." As we've seen just this year, the FDIC usually takes control of a bank on Friday, and re-open on the following Monday with no interruption in fund availability. "As soon as possible" is pretty vague, but I'm pretty sure it's a lot less than 99 years! ;-) Regina,

It sounds like that adviser was trying to sell an annuity!

As the FDIC website states, they are required by law to provide the funds “as soon as possible.” As we’ve seen just this year, the FDIC usually takes control of a bank on Friday, and re-open on the following Monday with no interruption in fund availability. “As soon as possible” is pretty vague, but I’m pretty sure it’s a lot less than 99 years! ;-)

]]> By: Regina Henneberry http://simpledebtfreefinance.com/fdic-myths-legends-and-misconceptions/#comment-239 Regina Henneberry Thu, 23 Oct 2008 23:46:30 +0000 http://simpledebtfreefinance.com/?p=146#comment-239 I was told today by a Sovereign Bank financial advisor that the FDIC can take up to 99 years to pay funds from a failed institution. "Companies that offer annuities have more $$$ and are better prepared to make back $$$" I told her I had never heard of this and inquired if the bank disclosed this. She said it's in the fine print True/Not true 10/23/2008 I was told today by a Sovereign Bank financial advisor that the FDIC can take up to 99 years to pay funds from a failed institution. “Companies that offer annuities have more $$$ and are better prepared to make back $$$” I told her I had never heard of this and inquired if the bank disclosed this. She said it’s in the fine print

True/Not true 10/23/2008

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