B of A not FDIC insured- look at the bottom!

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B of A not FDIC insured- look at the bottom! - 12/9/2009 12:57:58 PM

pahunkboy

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http://www.bankofamerica.com/deposits/checksave/index.cfm

Check out the 3 boxes at the bottom. "not FDIC insured" So the brokerage- is posing as a bank which people think is insured.

Interesting, isn't it?

Ok- on a re-read maybe it is just a bad web page design. That the investments, are not insured... but it is not clear if BA accounts are "investments". a bit confusing.

< Message edited by pahunkboy -- 12/9/2009 1:06:12 PM >

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RE: B of A not FDIC insured- look at the bottom! - 12/9/2009 1:17:32 PM

mnottertail

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no investments are FDIC insured, regardless of bank or brokerage.

thats why folks lose money, in those places, you see.

Bernie Madoff, et al.

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RE: B of A not FDIC insured- look at the bottom! - 12/9/2009 3:00:17 PM

pahunkboy

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quote:

ORIGINAL: mnottertail

no investments are FDIC insured, regardless of bank or brokerage.

thats why folks lose money, in those places, you see.

Bernie Madoff, et al.

It does seem tho- that the page would clearly indicate that BA checking and savings ARE FDIC insured. Even when I click details I don't see that.

Some accounts do a sweep thing. In and out. So it is possible that one mode is insured the other is not. The fed no longer insures money market funds. They did for a while but now have dropped it.

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