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Topicprotect state funds with CDARS
ContentPresently each bank can offer $100,000 in deposit insurance, however a bank product called Certificate of Deposit Account Registry (CDARS) can allow the depositor to authorize the bank to send funds to other banks which each insure $100,000 so the end result is that depositors can get up to $30 million in FDIC insurance by using this system which was an innovation of a retired Comptroller of the US Currency.All State funded agencies (with over 100,000 in bank balances) should be required to get this service to guarantee that taxpayer funds are insured
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