Be Well: Keeping an Eye on Your Own Finances Amid Bank Collapses
With Americans watching multiple banks collapse this year, there are growing concerns about their own accounts and whether or not they can trust financial institutions. Marty Cantor, CPA and economic development consultant, joined Cheddar News to break down why some banks are struggling and what certain income earners should considering doing with their own finances. "If you have less than $250,000 in your own name in any bank, or $500,000, if you have joint tendency, you're going to be ok because the FDIC will protect it. The credit unions have a national association of credit unions that provide the same coverage. But if you're over $250,000, an individual depositor, you ought to take a hard look and maybe move some money to another bank," he said.
Crab fishermen in Alaska have been scrambling to stay afloat after two years of the Bering Sea fishery being closed or severely curtailed due to plummeting crab numbers. And they're concerned that more of the same awaits this October when officials decide on catch limits for the upcoming season.
Most major car brands admit they may be selling your personal data — though they are vague on the buyers, and half say they would share it with the government or law enforcement without a court order.
Tourism-related businesses have always been at the mercy of the weather. But with heat waves, fires and storms becoming more frequent and intense, small businesses increasingly see extreme weather as their next long-term challenge.
