Is my money safe? What you need to know about bank failures

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(CNN, POOL, STRINGR via CNN Newsource)

NEW YORK (AP) — The recent failures of Silicon Valley Bank and Signature Bank, which catered mostly to the tech industry, may have you worried about your money. They were the second- and third-biggest bank failures in U.S. history. There’s no need to worry if your money is in a bank insured by the Federal Deposit Insurance Corp. and you have less than $250,000 there. If the bank fails, you’ll get your money back. If you have over $250,000 in one bank, that amount is considered uninsured and experts recommend that you move the remainder of your money to a different financial institution.