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.
Student loan interest payments have restarted and many questions have arisen about them. Jade Warshaw, a financial expert with Ramsey Solutions, joined Cheddar News to explain what borrowers should know and what to look out for.
Canadian pipeline operator Enbridge is planning to purchase three gas distribution companies from Dominion Energy for $9.4 billion in cash and assume $4.6 billion in debt.
