“So any FReepers who have over, lets say, $100,000 in one account, break up the total to five separate accounts at five different banks or credit unions. “
The Fed could easily change the rules to a total of 100k no matter how many institutions...
Understand what you’re doing by putting money in a bank. You’re nothing but an unsecured creditor with deposit insurance. And you’re risking those funds for not even 1% interest in return.