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Items not covered by FDIC: "Losses due to theft or fraud at the institution."


FDIC Regulation-E.

Consumer liability for unauthorized transfers. The consumer has limited liability if reported expediently.

You should read up more closely on the FDIC regulation -- they don't just provide insurance.


Also, a clever little loophole: if the bank goes insolvent paying their accounts back, you are then covered under FDIC insurance.


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