IndyMac's failure highlights need to do deposit checkup

•Certificates of deposit. The FDIC will honor interest rates on traditional CDs until maturity, Bovenzi says. As recently as last week, IndyMac was offering an attractive yield — up to 4.3% on one-year CDs.

But the FDIC stopped paying interest on brokered CDs as of Friday, Bovenzi says. Those CDs paid even higher rates, he says. Continuing to pay those rates, Bovenzi says, would reduce the value of the bank, making it less attractive to potential buyers. "And it's the value of the bank that will get some money back for uninsured depositors."

•Home-equity lines of credit. IndyMac customers' home-equity lines will be frozen until the FDIC has time to review each account, says FDIC spokesman David Barr.

•Loans. IndyMac borrowers should continue to make payments on loans through the bank. Though IndyMac's online service was disabled over the weekend, it's now operating normally, Barr says. Customers who make electronic payments can continue to use that payment system, he says.

Sandra Block covers personal finance for USA TODAY. Her Your Money column appears Tuesdays. Click here for an index of Your Money columns. E-mail her at:

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