After a bank failure in the US, the Federal Deposit Insurance Corporation (FDIC) steps in as the receiver of the failed bank’s assets. The FDIC typically takes over the bank’s operations, works to sell off its assets, and use the proceeds to repay creditors. Depositors, or account holders, are first in line amongst the creditors to get their money back.Most banks hold more assets than deposits. So in theory, depositors should always be made whole.Usually, the failed bank gets sold, assets and all, to a competitor. For a …