The Federal Deposit Insurance Corp. (FDIC) saw its insurance fund, which protects bank deposits, fall 20% in the second quarter to $10.4 billion, the lowest level in 16 years. The FDIC, which closed 81 banks this year, said it still has 416 banks on its “problem list,” up from 305 at the end of March. Despite [...]

Some recent rate cuts to savings and checking accounts include: EverBank‘s intro rate for its checking and money market account lowered to 5.01% APY (was 5.51%) Standard rate lowered to 4.26% (was 4.51%). Citibank‘s Ultimate Savings Account and e-Savings Account rates lowered to 3.75% APY (was 4.00%) The Ultimate Money Account rate (which Citi heavily [...]