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PeguinBackPacker | Bank of America is facing trouble on the stock market, should I empty my account and go to another bank? |
Additional Details
All and all, is this a good bank to be with and is my money safe with them?
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Mr. Prefect
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B of A is not in trouble. They put too much money into those teezer loans and are not suffering the consequences, but won't be going out of business anytime soon. They are the #2 bank in the U.S. in assets.
And even if there was a bank going out of business, your money is insured by the U.S. Treasury up to $100,000. |
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mikeeyman
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Your accounts are federally insured up to $100,000 with bank of America through the FDIC. There's nothing to worry about. BofA reported bad earnings... But they will always be around. They have such a wealth of assets that they can report years and years of bad earnings and still survive. The stock price may hurt... but that won't affect your checking account. |
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Frank Castle
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No.
Bank of America is the SECOND MOST PROFITABLE COMPANY IN THE WORLD behind Citigroup (Excluding Oil Companies) |
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bud68
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Your money is safe. |
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BA
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No, your money is safe |
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Brutus
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Better hurry up before they fold. I guess you never heard of FDIC. |
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Diane B
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Bank of America is not going to be the only bank affected by the current mortgage crisis. Every bank that offers mortgage lending is going to be in the same boat. So don't even think about changing banks to keep yourself afloat. I would rather stay with my tested bank who knows me than start all over. I have been with them for almost 30 years now. |
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helprhome
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They seem to be confident enough to be offering up a pile of money to try to bail out the sub-prime fiasco. Which keeps people in homes and paying on a regular basis and believing in the Bank of America name. Seems like they are doing a better job than most to me? |
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GG
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i dont think you have to go to this extreme but if you feel uncomfortable, leave 'em. go with US Bank or Wells Fargo. |
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