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Resource ID: #20101
Subject: Banks
Source: Wall Street Journal (New York)
Date: 2022-06-10


Stanford Stoddard, a multimillionaire in Southfield, Michigan, wants to start a bank. However, because of his questionable past, the FDIC refused his deposit insurance, making it impossible for him to start his bank. Even with the help of prominent friends, Stoddard still failed to get the required insurance.

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