Customers are seeking to find out what this means for the funds they had in their accounts. Last week, Silicon Valley Bank became the second largest bank failure in American history and new reports have revealed that over 85 percent of its deposits were without deposit insurance. The FDIC has been tasked with returning money to the bank’s customers where applicable. The Federal Deposit Insurance Corporation has taken over about $175 billion in customer accounts and will be returning money to customers where it can. That said, over 85 percent…
Read MoreSilicon Valley Bank lacked deposit insurance in 85 percent of cases
