GRN Holding Corp (GRNF)

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Chartered Banks and Online Banks
Certain online banks may contain overseas charters; these do not conform to either state or federal regulations. In these cases, the consumer must determine if the online bank might offer Federal Deposit Insurance Corporation (FDIC) protection. The FDIC, created in 1933 to maintain public confidence and mitigate bank failure in the United States, insures deposits of up to $250,000 per member institution (as of 2016).

Examples of online banks include Axos Bank, Ally Bank, EverBank, Discover Bank, and Charles Schwab Bank. As online banks can cut costs via a largely digital footprint, many can offer above-average deposit rates and high-quality digital offerings to customers.