Is Your Cash in a Real FDIC-Insured Bank or a Look-Alike? Are You Sure?
Carlin McCrory, an associate with Troutman Pepper's Consumer Financial Services Practice Group, was quoted in the March 21, 2023 MarketWatch article, " Is Your Cash in a Real FDIC-Insured Bank or a Look-Alike? Are You Sure?"
If the FDIC's December rule proposal is finalized, it should add some more clarity, industry experts say. For example, the proposal would beef up requirements to disclose that non-deposit products are not FDIC-insured, not deposits, and may lose value, said Carlin McCrory, associate attorney at Troutman Pepper.