#fdic

[thingstrumperssay]

And there will be another great depression under him when his tariffs and mass deportation raises the price of everything significantly.

[bitchesgetriches]

So I'm nowhere near wealthy enough for this to matter, but I've always wondered something. Do banks ensuring your money up to $250000 with the FDIC mean you should never keep more than that amount in the same bank? Should you use more than one if you're rich in case you need that insured money?

So, funny story.

My grandparents (an Italian immigrant who barely survived childhood during WWII and a white-passing mixed race man who barely survived childhood in the South) were EXCEEDINGLY cautious about most things because of their lived experiences. Nonetheless, they got into the stock market in the 1960s without fully understanding it, lost a bunch of money in a downturn, and immediately swore off investing ever again.

After that, they kept their money in FDIC-insured bank... s. Banks. Multiple. At the time my grandfather died at age 94, my grandparents had several bank balances of $250,000 in non-interest-bearing accounts. It was a massive headache for my dad and his siblings to run around FINDING, consolidating, and organizing the accounts to secure elder care for my grandmother.

My grandparents weren't WRONG for having multiple accounts! And they weren't wrong for not trusting financial institutions beyond the $250k the FDIC insures. But they would have been a lot better off diversifying their assets and accounts. Once they surpassed $250k in savings, they would've been much better off investing that money in the stock market, putting it in an HSA, buying additional property, investing in small businesses, etc.

But again, they were both survivors of significant trauma. It gave them enormous peace of mind to know that their savings were insured. Investing in the stock market was too stressful and volatile for them. This is just another example of how PERSONAL FINANCE IS PERSONAL.

Now here is some required reading for context:

Wait... Did I Just Lose All My Money Investing in the Stock Market? 

Cheat on Your Bank—It's Not Your Girlfriend

Investing Deathmatch: Timing the Market vs. Time IN the Market 

The Dark Magic of Financial Horcruxes: How and Why to Diversify Your Assets 

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[saywhat-politics]

Trump and DOGE want to slash the FDIC's workforce by 20%, leaving fewer watchdogs on the beat to police Wall Street misconduct.

Remember: the FDIC was created during the Depression to protect people's deposit accounts.

Gutting it could lead to another financial meltdown.

[dostoyevsky-official]

Trump Advisers Eye Bank Regulator Consolidation After Targeting CFPB

In recent discussions, Trump advisers and allies have examined whether it is possible to collapse the Federal Deposit Insurance Corp. into the Treasury Department, according to people familiar with the matter. They have also discussed combining the FDIC’s regulatory role with the Office of the Comptroller of the Currency under Treasury. [...] Staff inside the FDIC and the OCC expect to hear from DOGE soon, according to people familiar with the matter. [...] The administration wants at least de-facto consolidation of the bank regulators, even if the agencies remain separate entities. It’s unclear whether the administration could do that on its own. Congressional support would be needed to officially combine agencies. In a recent proposal, one individual would lead both the OCC and the FDIC, people familiar with the matter said. That would allow the OCC to attempt to take over all of the FDIC’s work supervising banks and potentially its role winding down failed banks, the people said. [...] In any plan that advances, significant cuts are likely at the bank regulators. Trump has moved to freeze hiring in the federal government and force workers back to the office full-time. DOGE has been the main driver of cuts. Bank executives have been telling Trump their industry suffers under too much regulation. For years, the CEOs have argued other industries are encroaching on their business without the same regulatory hurdles.

we are all going to starve.

[redratt]

A bunch of my money is on hold with my own bank, and I'm being called multiple times a day by bill collectors. For two weeks, the money has been "deposited by tonight".

It hasn't been and I'm opening cases against the people involved, but that doesn't change rent, doesn't change bills.

I'm not at fault, but it doesn't matter.

If you can give, anything helps. 850 dollars are frozen up because of my old banks bullshit. I can't go another month like this. I've already gone weeks eating bare minimum. They've been saying the money will be in tonight for literally 3 weeks and will not transfer it to my new account which is where it should have gone.

Link is here paypal.me/h1231

Everything being done here by the other parties is literally illegal yet im the only one facing any punishment. My electricity and water are in danger of being shut off.

The companies are basically telling me to fuck off and die about it.

[akirastxr]

READ THIS BEFORE FALLING FOR THIS TUMBLR SCAM AND SHARE THIS INFORMATION WITH EVERYONE YOU CAN!

There's been a scam going on on tumblr for a while now, I found out about it through some posts here and on reddit after I had already sent my credentials to a "tumblr support agent" on discord. At the end, there's a reddit post with instructions on how to recover your account if you have been scammed or know someone who was

Kinda long post

Someone I've been following on tumblr for 2 years, a creator of some characters I like and an artist (but I don't know them beyond that), contacted me in DM yesterday saying they needed to talk. Earlier today, they said they were scammed by someone and mistakenly reported my account thinking I was the scammer, and some friends also reported it. They said they "sent a message to tumblr support" saying the report was a mistake, and that the reason for messaging me was that I needed to contact a user on discord, who was mentioned in the "tumblr e-mail" in response to the user who sent me the message, in order to reverse the ban on my account within a certain timeframe

I added the user as a friend on discord, but up until then I hadn't suspected anything (I have no experience with scams or tumblr support, and never expected that tumblr user to message me, so I didn't know they don't have agents on discord, and obviously I didn't want to lose my account). I contacted the guy, who's probably a fake profile (scammers would never reveal their true identity even if they were pretending to be support staff from a platform, from a business, or anything else), and he asked me a series of questions and confirmations about the process I would go through to "remove the false, fraud reports (illegal transactions and fraudulent activity) from my account to avoid a permanent ban. He asked for my date of birth, country, handle, and soon after, my tumblr e-mail address

I actually received an email from tumblr (or a fake one) to change my password. A platform's support team would never ask for information like passwords, since they already have the necessary access to accounts for legal and support purposes. He gained access to my account when I changed my password to the one he requested. I believe he couldn't have accessed it any other way using only the e-mail, and I guess that changed passwords aren't saved in the account by history, so he wouldn't have been able to access the old password and try to access my accounts on other platforms that share the same e-mail?

They went to great lengths to create fake graphics for the scam using the tumblr logo and fake support e-mails from the platform (even those that the tumblr user who contacted me sent in the messages)

The FDIC website exists, it's a USA government agency dealing with something in finance and security. However, I'm not sure about the site's legitimacy or if the scammers are just using it as a means to an end without being directly involved. Don't visit the site as a precaution

That was the last message in the conversation. I thought about how I should act while I was still desperate to solve the problem, so I searched what appeared on the scammer's profile, "verified tumblr dispute support", and found the reddit post. The scammer also had a linkedin page, but I won't put it here for security reasons. When I recovered my account and changed the password, the language had been changed to english by the scammer, a trace he left behind, besides the fact that the tumblr user's account had been deleted (no longer appeared in DM), either by the scammer(s) or by the REAL support

If possible, file a police report against this scammer, as it may be an organization and not just one individual, and many people must've already been scammed after paying the fee in dollars. Spread this information to people you know who also use tumblr so that it spreads and more people find out!

Reddit post for instructions

Direct link to REAL tumblr support (once your e-mail is confirmed and replied to, they will also give you more specific instructions for preventing and resetting your password to a new one without needing the current one, which's the one the scammer changed to)

[onlytiktoks]

Fired federal employees describe turmoil in final days: "Massacre"

Thousands of federal workers who work in science, forestry and in national parks nationwide were fired. Critics warn that the effects will h

[fuck-u-maga]

Dumb ass people voted for this