How many people are reviewing where they bank after recent events?

[teddy12b]

I'm digging into where I bank and how strong it's financial sheet is. With recent events I've got family who work for a company that banked at one of the recently destroyed banks in California. I get both sides of the issue, that it's not the governments job to back people money and we should all be more diligent in where we decide to bank at, but I also get that when I bank collapses it's real peoples live/retirements/life savings that just got wiped away. So I've been taking a hard look at where I bank personally. Personally, I don't have to worry about exceeding the FDIC 250K backing, but I still want to know more about where I bank. I'm just not sure on who the trusted sources are for grading the security of a bank.

Any thoughts?

 

[DoggyDaddy]

I'll stick with my credit union.

 

[blain]

I'm not too concerned about the local bank where I have my accounts.
But I will check the ratings on banks where I consider investing in CD's.

"This search engine will enable you to find the latest CRA ratings of financial institutions supervised by the Federal Reserve, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and/or Office of Thrift Supervision."
FFIEC Interagency CRA Rating

If anyone knows of more user friendly ratings tools, please post them.

 

[Nugget]

I'm not too concerned about the local bank where I have my accounts.
But I will check the ratings on banks where I consider investing in CD's.

"This search engine will enable you to find the latest CRA ratings of financial institutions supervised by the Federal Reserve, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and/or Office of Thrift Supervision."
FFIEC Interagency CRA Rating

If anyone knows of more user friendly ratings tools, please post them.

The CRA just tries to make sure banks lend money to people who check certain boxes based on non-credit measurements but dont actually deserve credit (i.e. race, gender, low income status, neighborhood/address, etc). A good CRA rating actually means a bank is undertaking unsafe lending practices in order to get Good Boy points. (I used to work at a bank, for what it's worth.)

 

[blain]

Thank you.
Do you know of better ratings tools that focus more on a bank's financial health?
Many ratings I've found are based on customer service. That could be one indicator of the bank's reputation, but not necessarily a great one for someone looking to plop down their hard earned cash.