How should we handle our money after trump dismantled the CFPB

[At30wecashout]

how would you expect the banks to operate without these protections? you think the banks would just straight up uproot our checking and savings accounts?

Not necessarily, but if a bank goes down, which is not a rare thing, your money is not protected. If there is say an inkling that markets are going to tumble, inflation, etc, all it takes is a run on a bank for it to drop. If it does not get bought out AND have that money guaranteed, there is no government arm to financially back the catastrophic losses national banks can have. Local banks are smaller in footprint but still can rely on FDIC in the case of fukkery.

Its bigger than the bank goofing, its insolvency taking your money that is the fear.

 

[Goat poster]

Unless they get rid of FDIC you Gucci

Trump is targeting ALL federal organizations

 

[jwinfield]

Unless they get rid of FDIC you Gucci

 

[Rekkapryde]

Gotta go

 

[Gloxina]

Lmao


Bank run it is

 

[MajesticLion]

Damned good thread.

 

[Traveler]

Unless they get rid of FDIC you Gucci

FDIC is on the chopping block. Trump is gonna let these companies hose us. This 4 years is gonna suck badly

 

[Sauce Mane]

Convert all cash and assets into Gold..

Unstable but vast economies on the brink with great uncertainty are risky for traditional cash currency.
Read up on how and why Japanese families buy more personal gold than anyone else.
Thank me later

 

[CouldntBeMeTho]

Holding all cash becaue you don want to get robbed huh

 

[ItsPeople]

Put that shyt below your mattress like our grandparents did.

 

[CouldntBeMeTho]

how would you expect the banks to operate without these protections? you think the banks would just straight up uproot our checking and savings accounts?

You're a moron

 

[jadillac]

Unless they get rid of FDIC you Gucci

He mentioned months ago before the election about wanting to do away with the FDIC

 

[Dont@Me]

Not necessarily, but if a bank goes down, which is not a rare thing, your money is not protected. If there is say an inkling that markets are going to tumble, inflation, etc, all it takes is a run on a bank for it to drop. If it does not get bought out AND have that money guaranteed, there is no government arm to financially back the catastrophic losses national banks can have. Local banks are smaller in footprint but still can rely on FDIC in the case of fukkery.

Its bigger than the bank goofing, its insolvency taking your money that is the fear.

i appreciate the input.
FDIC doesn't reimburse for scams and such though, that was the CPFB's job.
Let's say a bank teller who has access to your info decides to transfer their funds into their offshore account or something.
What would the recourse look like for my money?
What about government agencies just straight up taking money out of our accounts??
I don't know much about the law (especially with trump as a wild variable) in these cases which is what is making me not trust my money with the banking instituation moving forward.

 

[Richard Glidewell]

They were already stealing your money and staying in your face telling you you need to give it to strangers so you can invest........now when your shyt disappears it's even less likely you getting it back.......

 

[Gloxina]

i appreciate the input.
FDIC doesn't reimburse for scams and such though, that was the CPFB's job.
Let's say a bank teller who has access to your info decides to transfer their funds into their offshore account or something.
What would the recourse look like for my money?
What about government agencies just straight up taking money out of our accounts??
I don't know much about the law (especially with trump as a wild variable) in these cases which is what is making me not trust my money with the banking instituation moving forward.

Now this is giving me pause…

If they get rid of the FDIC… might be safer to move more funds to NavyFederal/USAA….I feel like I might not get screwed as quickly if wild shyt starts going down