The Federal Deposit Insurance Corp. is set to pay almost $23 billion to stabilize the banking sector. That money comes from an insurance fund that is refilled annually through fees paid by banks. Now the agency is considering a special assessment on the entire industry to help make up the costs, according to a Bloomberg report. It also noted that big banks (who have been the biggest beneficiaries, as depositors have flocked to safer ground) might have to pay extra.
Widespread flash flooding hit New York City on Friday and city residents were dealing with financial losses and molding in the aftermath. Cheddar News took a deep dive into what to do to when dealing with storm cleanup.
