What to do if Your Bank Fails

One Friday afternoon you're planning your weekend and bam! - right there on CNN is the news that your bank has been taken over by the FDIC.

First, don't panic. If you've followed the rules outlined above, you shouldn't have any problems. Access to your account may be restricted for a few days, but you will get your money, with minimal fuss or paperwork.

If you have a loan from a failed bank, you should keep making your payments. Unless you hear otherwise from the FDIC, keep sending them to the same address you've always used. Scammers have been known to take advantage of people's confusion and worry when a bank fails.

Get more tips here in What to do if Your Bank Fails.

Next: Does the FDIC have enough cash to cover all these failures?