Banking Laws

Who regulates banks?

The regulators of banks are the controller of the currency, and that really is a group that handles the national banks. There's a Federal Reserve, and then the FDIC, which is the Federal Deposit Insurance Corp.

Are all deposits insured?

Not all deposits are insured, but they all should be. The Federal Deposit Insurance Corp insures deposits up to $100,000 per title. So for example is, if you have $100,000 titled under your name, that's insured. But if you have another one under your name for the same amount of money in the bank, you're only insured up to $100,000. If you have an account insured under your name for $100,000, and if you had a joint account with somebody else, that would be for $100,000. If you had a trust account, that would also be covered for $100,000.