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FDIC Consumer News

Important Update: FDIC Insurance Coverage Increased in Late 2008

In the fall of 2008, Congress temporarily increased the basic FDIC insurance coverage limit from $100,000 to $250,000 through December 31, 2009. In addition, the FDIC simplified the rules for the calculation of deposit insurance coverage for revocable trust deposits, including an expanded definition of the "eligible beneficiaries" for additional insurance coverage. As a result, certain previously published information related to FDIC insurance may not reflect the current insurance coverage. For more information, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342) Monday through Friday, 8:00 a.m. to 8:00 p.m., Eastern Time. For the hearing-impaired, the number is 1-800-925-4618.

Summer 2008

FDIC Advertising, Education Campaign Reminds Consumers About Deposit Insurance Limits

On June 16th, exactly 75 years after President Franklin Delano Roosevelt signed legislation creating the FDIC in 1933, Chairman Sheila C. Bair announced a public education campaign designed to raise consumer awareness about deposit insurance coverage limits.

"We at the FDIC are very proud to say that no depositor has ever lost a penny of insured funds at an FDIC-insured institution," she said. "As bank customers age and accumulate wealth in savings and retirement accounts, now more than ever, it's important for people to know their deposit insurance limits."

The education campaign includes national advertising in major newspapers and magazines, and a series of meetings around the country to bring FDIC officials and community leaders together to discuss deposit insurance coverage and other consumer protections, in areas such as mortgage lending.

For more information about the FDIC's 75 years of service and the public education campaign, visit www.fdic.gov/anniversary.

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Last Updated 8/7/2008

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