Chase says goodbye to FDIC program
Chase announced that they are dropping out of the FDIC’s Transaction Account Guarantee Program. This is different than the general FDIC protection for your bank account, but provides additional protection above and beyond the $250k limit of the general FDIC program. This is not a good thing. They are doing this to escape some of the regulations that come with participating in that program. (article)
Legal & regulatory | admin December 23, 2009
