|
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.
|
Fall 2004
FDIC, Other Agencies Add to Financial Education Programs
The FDIC in September unveiled an interactive computer-based version of the agency's award-winning Money Smart financial education curriculum. Money Smart CBI — short for computer-based instruction — is easy to use and is available free of charge in both English and Spanish on CD-ROM and on the FDIC's Web site.
Prompted by an animated guide, Money Smart CBI enables students to have a "virtual experience" entering a bank and interacting with employees, using an ATM, writing checks, balancing a checkbook, reading a credit report, and conducting other activities. Money Smart CBI contains the same 10 sections as the original curriculum, which was designed for classroom use and primarily for low- and moderate-income individuals. The new version allows people to study at their own pace and can be used to complement formal classes or serve as a refresher.
To order a free copy of Money Smart CBI on CD-ROM or to access the Web version, go to www.fdic.gov/consumers/consumer/moneysmart/mscbi/mscbi.html.
In addition, the FDIC and other federal departments and agencies have announced the first major initiatives of the government's new Financial Literacy and Education Commission. One new product is a free financial education "toolkit" with information on deposit insurance, loans, Social Security benefits, and other financial topics. To get your toolkit, call the Commission's toll-free hotline at 888-MY MONEY (888-696-6639).
A similar version of the toolkit also is available in Spanish. In addition, the Commission created a new Web site (www.mymoney.gov) for financial information from the federal government.
|
