Don't lose your money because of a failed bank

The federal takeover of IndyMac bank has consumers worried. How do they protect their deposits and make sure they get their money back if they need or want it? This is a legitimate concern. After all, banks are supposed to be a safe place to put our money, aren't they?

The Federal Deposit Insurance Corporation (FDIC) insures deposits at banks or savings associations so that customers don't lose their money if a bank goes under. But believe it or not, most consumers do not know that there are limits to this insurance coverage.

The general coverage limit is $100,000 at any one bank. If a consumer has multiple accounts at one bank, but in total they exceed $100,000, they may not get all of their money back if the bank fails.