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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.

Special 10th Anniversary Edition - Fall 2003

Don't Get Mad, Get Answers
Got a complaint involving your financial institution but you're not sure about the best or quickest ways to resolve the matter?

First contact the institution.
The quickest way to resolve most banking problems is to work directly with your bank or savings association. If you report a problem to an institution in a phone call, follow up with a letter restating your concerns and asking that the situation be looked into. And if the bank agrees over the telephone to a refund or some other action to resolve your problem, request a written confirmation.

If you still feel there is a problem or that you're being treated unfairly, write to the institution's primary federal regulator.
If you're not sure who regulates an institution, you can write or call the FDIC. If you write to a government agency, include all pertinent information, such as your name, address and telephone number; the name and location of the institution; a brief description of the problem and your efforts to fix it (including the names of employees you contacted); and what you'd like the institution to do to correct the problem. Also attach copies of any supporting documents, such as account statements and letters to or from the institution. Remember that the FDIC and other financial regulators can only become involved in issues related to the laws and regulations in which they have jurisdiction.

Excerpted from "Don't Get Mad, Get Answers," Summer 1999.


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Last Updated 12/12/2003 communications@fdic.gov

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