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If additional changes occur, knowing which actions to take canhelp you protect your money.
The most obvious negative impact would be if bank deposit insurance were completely eliminated.
However, that doesnt mean that the FDIC will necessarily be eliminated or completely changed.
According to Frank, dramatically changing the FDIC would be an uphill legal battle.
The ratings are updated quarterly.
He explained that federally-insured credit unions are covered by the National Credit Union Share Insurance Fund (NCUSIF).
The NCUSIF is managed by the National Credit Union Administration (NCUA), which is a federal agency.
However, the likelihood of FDIC insurance being eliminated is extremely low.
There are strategic ways you might maximize the safety of your money, though.
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