What is a FDIC Insured CD Broker
"Consumers also purchase CD's through brokerage firms. A consumer with significant funds to deposit may use a broker to make deposits to multiple banks, thereby maximizing the consumer's FDIC insurance coverage. In addition consumers may be attracted to CD's sold a broker who has made significant deposits in a bank on behalf of multiple depositors and therefore, is able to negotiate higher CD rates than the individual consumer."- "Federal Deposit Insurance Corporation Certificate of Deposits- April 23, 2013
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