More Bank Failures Likely Before Financials Recover
http://www.cnbc.com/id/25885203

Does anyone know more about ICAs? When would you have to worry that your money may be in one of these? We've been trying to make sure all of our accounts are within the FDIC limits, but this throws a new wrench into the equation.

In any case, I wanted to let you all know about this so you can take the necessary steps to protect your savings.

From the article:

"A Warning For Depositors

Stock market players aren't the only ones who have to worry about investment risk with banks. Depositors, too, have exposure, particularly on funds that exceed the $100,000 limit covered by the FDIC.

What some may not know is that even though they may think they are under the insured limit, if they have money in investment banks they could have additional exposure if the investment banks have money placed in Insured Cash Accounts, or ICAs.

If the ICAs are at banks where depositors already have money, anything over $100,000 is not covered.

"That's something people doesn't understand," Boyle says.

She advises depositors to check their investment banks to see where their ICA money has been deposited.

"I don't care how big your bank is or how safe you think you are," Boyle says. "There's lots of rumors. We hear them everyday, and they're going to continue."