In this episode of THE FINANCIAL COMMUTE, host Chris invited Meghan Pinchuk, Morton Wealth’s Chief Investment Officer, to discuss the potential ramifications of the recent collapse of Silicon Valley Bank and Signature Bank. They cover:

• How these bank closures are different and likely not as problematic as the collapse of Washington Mutual and other banking issues the country faced in 2008.

• Details on how the Federal Reserve is protecting depositors at these two banks and other banks that may face similar challenges.

• FDIC insurance limits and recommend clients take action if they exceed these dollar limits at their bank.

• The contrast of Charles Schwab’s and Fidelity’s business models to traditional banks, highlighting that these institutions are designed to be more resilient.

At Morton, we are continuing to monitor this closely and will update you as the story develops. 

Disclosure: 

Information presented herein is for discussion and illustrative purposes only. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your financial, legal, and tax professionals before implementing any transactions and/or strategies concerning your finances.