What if a bank grows very large and then closes and leaves with all the money?

by Quinton on March 20th, 2016
 Filed under: Economics, Labor & Money, Banking

1 Comment

Quinton: In cases like this there will
Sun, 03/20/2016 - 11:18

In cases like this there will be legal agreements made when you begin relationships with businesses like banks. The agreement would state how in the case that they decide to close and take off with the money your DRO will have justification to pursue them with force to get back your money. Or maybe it wouldn't be with force. Maybe it would state something else. But whatever it is, any type of possible future problem like this would be dealt with ahead of time in the beginning of a relationship contractually. But how are you supposed to know about all the tiny little nuances to look for? You don't, but there would be businesses who do, and you would pay for them to do this for you. More than likely it would be something that is handled by your DRO.

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