Two US Banks Just Failed - What Happened, and What Now? ... ( read more )
LEARN MORE ABOUT: Bank Failures
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Bank failures happen when a bank is unable to meet its financial obligations and is forced to close its doors. This can have devastating effects on the individuals and businesses that entrust their money to that bank. It’s important to understand the causes of bank failures and to assess the safety of your money when you deposit it into a bank account. One of the biggest causes of bank failures is bad loans. Banks are in the business of lending money, and when they make loans to people or businesses that are unable to pay them back, they can quickly find themselves in financial trouble. Banks can also experience failures as a result of poor management, fraud, or economic downturns. When a bank fails, the first concern
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)