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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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Fall 2004
More on “Check 21”
In our last FDIC Consumer
News (Summer 2004), we
reported on how the new
“Check 21” law will affect check
writers and depositors. Example:
Checks will be processed faster,
so it will be more important
than ever to have enough money
in your account to cover the
checks you write.
Now that Check 21 went into
effect on October 28, 2004, we
encourage you to take another
look at our report, which is
available online at www.fdic.gov/consumers/consumer/news/cnsum04. In addition, the
Federal Reserve Board has
issued two new publications on
Check 21 and what you should
know about your checks.
They are available at
www.federalreserve.gov/pubs/check21/consumer_guide.htm
or from the Federal Reserve
Board, Publications Fulfillment,
Washington, DC 20551 (phone
202-452-3244).
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