New data from the FDIC reveals that Americans are withdrawing their money from banks at a rate not seen in 39 years. In the first quarter of this year, depositors took out a total of $472 billion, with uninsured deposits being the primary driver of the flight. This comes after the failures of several banks, triggered in part by the Federal Reserve's interest rate hikes, and has led to a surge in assets held by money market mutual funds, which reached a record high of $5.6 trillion at the end of the quarter.