[toast0]

> Now, can somebody tell me why banking regulations don't apply to my airline miles? After all, I've earned them and they are theoretically worth USD, so shouldn't they be protected?

Are airline miles theoretically worth USD? Afaik, they exchange for flights on a X points = Y class flight basis, not on a dollar basis. Yes, you can usually buy more miles for USD, but price to buy isn't price to sell.

[butlerm]

FDIC member banks are subject to regular and special assessments by law to pay for deposit insurance up to the legal limit for their depositors. Much like insurance premiums. I do not imagine that your airline pays for airline mile insurance on your behalf to anyone.

[toast0]

Sure, because they can devalue the miles. Welcome to our newest mileage program where now you need 2x the miles to get anything good.