
Clients of JPMorgan Chase, Bank of America, and Wells Fargo accumulate trillions of dollars in uninsured deposits
In 2010, under the Dodd-Frank Act—passed by Congress in response to the 2008 financial crisis—the Federal Deposit Insurance Corporation (FDIC) increased its deposit insurance limit to $250,000. In other words, if you place your money in an FDIC-protected …