Financially Secure Banks

lorelei2702
Sat, 19 Jul 2008 19:39:04 +0000

Re post #12…I remember a bank closing in Ohio in the mid 80’s and folks who had accounts there lost their $$ and they were still liable for their mortgages through the bank…they could not pay the bank with their own $$…probably the loans had been sold, or it could be that the loans were considered assets of the bank, and the deposits were up in smoke! So, do not count on being off the hook for debts to the institutions who hold your $$$$…it may not work that way. Of course, this was 20 years ago, and some rules may have changed since then.