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Despite the high-profile failures of Silicon Valley Bank, Signature Bank and First Republic Bank this year, most bank deposits are safe because of federal insurance, local bank officials and a financial expert said. “The majority of the deposits are safe because they are insured by the FDIC (Federal Deposit Insurance
The federal shutdown of two banks is unique and not a symptom of a widespread problem, two Pittsburgh financial experts said. “I do think that this is more of a unique situation in banking and not an overall barometer for what’s happening in the tech world,” said Dave Mawhinney, executive