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View Full Version : Regions Bank, is it in trouble


Fr_Chuck
Apr 26, 2009, 09:19 PM
I have not heard anything, and I could not find anything under any search I did. But my mother ( OK she is about 90) called me today and said that Regions bank is one of the US banks in trouble,

Does anyone have any links to any info on this.?

BIGBOPPER
Apr 26, 2009, 09:36 PM
I found this link: Regions Bank stress test (http://www.myfoxal.com/dpp/news/20090424_Regions_Bank_stress_test). It doesn't specifically say that it is failing, just that it might.
FDIC has upped the coverage for every bank to $250,000 per account. So if your Mom's assets are less than that, she's fine. If they are more than that, she can diversify, by opening other accounts at Regions, or at other banks. Just to be on the safe side though, I would only keep $248,000 in assets in each, that way no interest or other factors can push it over.
You might want to check with CNN.COM and see if there are banks that did well with the "stress test," and have her put anything over the $248K mark in that bank.