Mark Evitt

3 days ago | usnews.com | John Egan |Sebastian Oliveira |Mark Evitt

Key Takeaways The Federal Deposit Insurance Corp. is an independent federal agency that oversees and regulates U.S. banks while insuring deposits. At FDIC-insured institutions, each depositor is insured for up to $250,000 with deposit accounts like checking, savings and certificates of deposit in the event the bank fails. The FDIC does not insure most investment accounts like stocks, bonds or crypto. The agency also does not cover cases of theft or fraud.

6 days ago | usnews.com | Jessica Merritt |Sebastian Oliveira |Mark Evitt

Key Takeaways You may be able to replace or refund a money order if you act before someone cashes it. If you want to track down and replace a stolen or lost money order you should contact the issuer and submit a request, though it may charge fees. You can prevent a stolen or lost money order by filling it out fully with specific information and creating a digital copy of the information for reference. A money order enables you to send funds securely without a bank account or large sums of cash.

1 week ago | usnews.com | Melanie Lockert |Gina Freeman |Mark Evitt

Key Takeaways Now is a good time to buy short-term and long-term CDs before the Federal Reserve cuts rates. In the current environment, you'll likely see higher short-term CD rates. CDs may have a minimum opening deposit and come with early withdrawal penalties. In the current economic climate, putting your money in a certificate of deposit account can provide some stability.

1 week ago | usnews.com | John Egan |Sebastian Oliveira |Mark Evitt

Key Takeaways The U.S. House and Senate voted through a resolution that overturns a proposed rule to cap overdraft fees at $5 for large banks. The president is expected to sign the resolution into law, aligning with the administration's efforts to scale back federal regulation. You can protect yourself from overdraft fees by enrolling in regular direct deposit, monitoring your transactions and setting up alerts for when your balance falls too low.

2 weeks ago | usnews.com | Jessica Merritt |Sebastian Oliveira |Mark Evitt

Key Takeaways Your checking account balance should be enough to cover your bills, account fees and other unexpected expenses. If your balance is too low, you risk overdrafting your account and missing bill payments, which can affect your credit. If you have a high checking balance, you may be missing out on growing your money in a savings or investment account. Having too little money in your checking account can be a problem, but so can having too much.