0.85%Indymac Bank has been shut down however those that had up to the maximum insured amount by the FDIC should be reimbursed 100%. The FDIC will cover up to $100,000 for deposit accounts and up to $250,000 for some IRA accounts. In some cases, amounts over $100000 are also insured (the FDIC has full information as well as an Electronic Deposit Insurance Estimator (EDIE) calculator).
The failure of Indymac Bank is a good example of why you should ALWAYS choose an FDIC insured bank for your banking needs.
July 12th, 2008