If you have more than $250,000 in a bank account, recent changes to FDIC insurance coverage may affect you. Trust account limits have changed, and some investments that were previously covered may no longer be fully insured. To ensure your deposits are fully covered, consider spreading your money across multiple FDIC-insured banks or opening accounts with different ownership categories.
Struggling New York Community Bancorp (NYCB) has obtained $1 billion in funding from investors including former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital. As part of the deal, Mnuchin and others will join the bank's board amid financial struggles and declining share value. The capital infusion and leadership changes are intended to stabilize the bank and prevent the fate of collapsed regional banks.
