Nobody should have complete confidence in a bank. When I was young, I worked for a guy who ran multiple businesses and used multiple banks. He showed me how he balanced his treasury across multiple banks and instruments to minimize risk. He had lived through the Great Depression and seen banks fail. I took his advice seriously and have always used multiple banks. I am always concerned when any one account is higher than the FDIC limit. This requires cash flow planning and long term instruments, but it is what one has to do in this world.
and this is a dumb waste of resources/time/money/energy. the government should run a safe and boring bank for people and small businesses. no loans, no credit cards, just deposits (and allow people to buy safe bonds/ETFs through other banks).
they are already going to guarantee most accounts anyway.
