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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.
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Winter 2004/2005
News Briefs
New Video on FDIC Insurance: The FDIC has produced a 27-minute video to help bank customers and employees understand the basics of deposit insurance, including how the FDIC covers the most common types of accounts. Consumers and financial institution employees are encouraged to view the video on the FDIC's Web site at www.fdic.gov/deposit/deposits/index.html. For more information, see the Web page listed above or contact the FDIC's Call Center toll-free at 877-275-3342.
How to Obtain Free Credit Reports: As previously reported in FDIC Consumer News, you have new rights to obtain one free copy of your credit report from each of the three nationwide credit bureaus every 12 months beginning in western states December 1, 2004, and gradually moving east with completion due by September 1, 2005. Recently, the three major credit bureaus (Equifax, Experian and TransUnion) have set up one central Web site (www.annualcreditreport.com), toll-free phone number (877-322-8228) and mailing address (Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281) you can use to order your free report. For more information, see the new Federal Trade Commission fact sheet Your Access to Free Credit Reports (online at www.ftc.gov/bcp/conline/pubs/credit/freereports).
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