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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.

Spring 2005 - A Special Guide for Young Adults

How To Learn More

The FDIC offers a variety of assistance to help consumers understand how to handle their money and resolve complaints. Start with the consumer information on the FDIC Web site at www.fdic.gov, where you'll find consumer brochures and alerts, back issues of our quarterly FDIC Consumer News, and an interactive financial education program called Money Smart that provides a basic introduction to bank services. You also can get answers to questions by phone or e-mail (see For More Information).

FDIC Consumer News provides continuing financial education. You can sign up for a free e-mail subscription. After each new edition is posted to our Web site, you'll get an e-mail telling you about the issue and linking you to any story that interests you. Just follow the instructions posted at www.fdic.gov/about/subscriptions/index.html.

Other federal government agencies, including those listed on the next page and the Federal Trade Commission (www.ftc.gov), publish consumer information and have staff, Web sites and other resources that can help answer your questions on financial matters. Another good place to start is www.mymoney.gov, the federal government's central Web site for information about managing your money.

Other resources include financial institutions (through their staff, brochures and Web sites) and personal finance classes offered by schools, state and local government agencies and non-profit organizations. These local classes may involve a partnership with the federal government, such as those that offer the FDIC's Money Smart curriculum. Another example is the Cooperative Extension System (www.csrees.usda.gov/financialsecurity), a nationwide educational partnership of more than 3,000 local offices and 100 state universities, and a research and education agency within the U.S. Department of Agriculture.

 

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Last Updated 5/17/2005

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