The FDIC upped the insurance amount on individual deposit accounts from $100,000 to $250,000. The Federal Reserve says it will immediately begin consideration of the filings submitted by Wells Fargo to approve its acquisition of Wachovia. The $700 billion bailout package signed into law last Friday had little effect on the world’s stock markets. The Dow has dropped 21 percent in 10 trading days, and losses add up to a whopping $8.3 trillion for U.S. markets.”]
Source: https://www.cuinfosecurity.com/weekly-wrap-up-credit-unions-must-be-part-solution-a-1000