Bank & Credit Card Collapse?

Question

Everyday we heard bad economy news, how about the bank account and credit card?

Is it possible the banks will collapse, we can't use ATM, can't use credit card?

Answer 1

Virtually impossible.

Banks won't collapse because there are mandatory reserves each bank has to keep, and the Federal Reserve guarantees every dollar in every bank, and will bail out any collapsing bank.

Aside from nuclear winter or Armageddon, I can't think of much that can cause banks to collapse.

Answer 2

Banks are carefully regulated, so an individual bank will rarely fail.  When it does, most deposits are insured by the FDIC for up to $100,000.