The FDIC is tasked with protecting the nation's deposits. It does so by accumulating money in the so-called Deposit Insurance Fund. But as Fool contributor John Maxfield discusses in the video below, there's reason to believe that this resource wouldn't be enough to protect the deposits at even one of the nation's biggest banks if the FDIC were called upon to do so.
John Maxfield owns shares of Bank of America. The Motley Fool recommends Goldman Sachs and Wells Fargo and owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.