HOAs/Condos Should Limit Risk by Using a FDIC-insured Bank
The recent takeover of Silicon Valley Bank (“SVB”) and Signature Bank by regulators is troubling to all industries in the U.S., including the HOA/Condo industry. The demise of SVB and Signature Bank raises important questions regarding the level of protection HOAs and Condos should have in place to keep their bank deposits safe. Bank failures are rare, but, when it happens, [...]