How did the banks recover stolen money from a robbery before the FDIC insured days? March 7, 2010
Posted by Banking in : Personal Finance , 5comments
I remember reading about how the Ashley gang from the 1920s got away with 4,500 dollars and 18,000 in securities.
This, of course, was long before FDIC where which guarantees the safety of deposits in member banks, currently up to $250,000 per depositer.
How did the banks before FDIC recover money in the event of a robbery, like the Ashley gang robbery, or a bank run? Did the bank immediately go under?
By: Daphne
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