You open a new bank account at Eastside Savings. You see FDIC stickers around the bank, and the teller specifically mentions that Eastside Savings
is "FDIC insured". A few months later, you hear on the radio that Eastside
Savings is struggling to stay in business. Your savings balance is $500.
What would happen to that money if Eastside Savings failed? *
You would receive all the money you have deposited at Eastside Savings since FDIC
insurance covers accounts up to $250,000.
You could lose $250 since FDIC insurance only covers 50% of the money you have
deposited.
O You would lose all of your money.
O
You would receive $250,000 since FDIC insurance provides each account at the bank
with $250,000 regardless of how much they have deposited.