Posts by stormymason63

They actually rolled out the Fresh savings accounts well before any of these headaches started—even before the war kicked off, let alone the sanctions. I remember getting an email from them back in mid-February specifically about the new Fresh savings options.

Adam Fox3 said:In the event that a bank fails, you’re entitled to receive the interest earned on your savings or certificates of deposit up until the very day the Federal Reserve revokes their operating license.
The FDIC handles all payouts in US dollars, calculated using the average exchange rate set by the Federal Reserve.

Does that still hold true even if my specific contract states that I won't actually receive the interest until the full five-year term on my CD has expired?

Dear valued client,

Please be advised that starting May 2, 2022, we will be implementing updated General Terms and Conditions for consumer payment services. For your convenience, we have attached a summary detailing the specific changes made to our consumer payment service terms.

The full General Terms and Conditions can be reviewed on our website at www.chase.com.

Additionally, we are providing an Information Template regarding deposit insurance to keep you informed about how your funds are protected.

Sincerely,
Your friends at JPMorgan Chase

I just received this email in my inbox. I can't quite tell if this was just an automated blast sent out to everyone or if there’s actually something significant I should be concerned about? Is this some sort of signal for things to move forward? It looks like the update to the general terms kicks in on May 2, 2022. From what I can gather, nothing seems to change much—at least not for someone like me who just keeps their money in savings. Interestingly, the date on the document regarding the deposit insurance is listed as February 28, 2022.