Vanguard Capital, an insured brokerage firm, has announced that it is now offering up to $50 million in Federal Deposit Insurance Corporation insurance coverage through the certificate of deposit account registry service.
The certificate of deposit account registry service (CDARS) program offers individuals, corporations, partnerships, limited liability companies, trusts, non-profits, and fiduciaries the ability to obtain up to $50 million in Federal Deposit Insurance Corporation (FDIC) insurance coverage for their bank deposits.
The customer can choose to invest in an array of short term to intermediate term certificates of deposit, all of which are insured by the FDIC.
John Blake, a managing director at Vanguard Capital, said: Bank failures, and general financial turbulence have led many individuals, corporations, and fiduciaries to re-think their banking strategies and many are searching for ways to increase their federally insured protection. Now, it is all about safety.