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.

More In Business

Big Business This Week: Chipping Away at the AI Revolution

Plus: The Blue Screen of Death, a GOP tax plan, Taylor Swift is inflating the UK, and commercial real estate is facing a 2008-esque apocalypse.

Artists Get Creative to Protect Their Work from Generative AI

As image-generating AI continues to evolve, artists are increasingly fighting against what they see as an existential threat to their craft.

Did Taylor Swift Impact UK Inflation?

Some economists attributed spending increases to Taylor Swift’s tour of the U.K. in a new inflation report.

Rising Inflation Sparks Side Hustle Surge Among Americans

Inflation strains many financially, jeopardizing the American Dream. Can side hustles offer relief?

Senate Review: Amazon Prime Day Causes Warehouse Worker Injuries

A report released by Senator Bernie Sanders says Amazon’s popular Prime Day sales event has been “a major cause of injuries” for warehouse workers.

Microsoft Faces UK Competition Investigation Over AI Startup Hiring

British regulators have opened a preliminary investigation into Microsoft’s hiring of an AI startup’s key staff over AI competition concerns.

Perjury Charges Could Face Man Who Falsely Claimed to Invent Bitcoin

Perjury charges in London could soon face a man who falsely claimed to be the mysterious creator of the bitcoin cryptocurrency.

Retail Sales Steady in June from May, Showing Shoppers’ Resilience

Shoppers paused their spending in June from May, defying economic forecasts for a pullback and proving their resilience.

Celebrities and Influencers are Getting $2,000 MRI Scans. Should You?

Celebrities and influencers are helping promote high-tech medical scans that companies claim can help catch deadly diseases, including cancer.

Powell says Fed is More Confident Inflation is Slowing

Chair Jerome Powell said the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target.

Load More