While banks around the country were closing, Synovus Bank came on the top of a new plan that enabled large depositors to maintain their accounts insured for as high as $7.75MM, far above the FDIC insurance cap of “just” $250,000. As a result, they saw their deposits mushroom by $1.4BB in just 180 days. Because Synovus Bank has a policy to make their customers feel secure about their money, their future through this recession is secure as actually.
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