Notice of Expiration of the Temporary Full FDIC Insurance Coverage for Noninterest-Bearing Transaction Accounts
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit: http://www.fdic.gov/deposit/deposits/unlimited/expiration.html
How To Spot a Financial Scam
Con artists are very good at tricking consumers into parting with money or divulging personal information that can be used to steal funds or run up thousands of dollars in fraudulent credit card charges. How good are YOU at telling a scam from a legitimate offer or advertisement? Test your knowledge of common frauds and their warning signs by taking the FDIC quiz.
FDIC insures all types of deposit accounts including checking accounts, savings accounts, money market deposit accounts (MMDAs) and certificates of deposit (CDs). FDIC does not insure other types of investments such as stocks, mutual funds or annuities even if they were purchased from a bank or one of its affiliates. Therefore EDIE should not be used for investment products that are not deposits. If the accounts entered into EDIE are not deposits in an FDIC-insured bank, the coverage information provided in the EDIE report does not apply.
To calculate coverage for your account click on the EDIE Calculator