this post was submitted on 05 Mar 2025
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Hmm, are you still covered by the FDIC if you deliberately engineer a bank failure? Let's say all of Bank of America's customers decided that they just really wanted to fuck BoA hard. So they arrange to all demand the complete liquidations of their accounts, all at once. Or maybe people arrange a series of bank failures as part of some broader political movement. But hypothetically, if a group of people deliberately caused their bank to fail, would their deposits still be FDIC-insured? In other words, if you deliberately arrange a bank run, will you still be covered by FDIC insurance?
It'd be hard to prove a single participant. An organizer, maybe? But if you just heard everybody's doing a bank run on the 20th and you're scared of the stability of your bank, so you decide to withdraw your money on the 19th so you can put it into another bank, that seems reasonable.
(i know nothing about digital transfers between banks)