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FDIC Consumer News - Fall 2000

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.

For More Help or Information Regarding Brokered CDs

The Federal Deposit Insurance Corporation (FDIC) can answer your questions about how brokered deposits are covered by federal insurance. Contact the FDIC's Division of Compliance and Consumer Affairs toll-free at 800-934-3342, or by mail at 550 17th Street, NW, Washington, DC 20429. You can also find resource materials and a form to send questions online by going to our Customer Assistance page at www.fdic.gov/quicklinks/consumers.html. Also look for more tips and information about brokered CDs at www.fdic.gov/deposit/deposits/certificate/index.html on the FDIC's Web site. Note: The FDIC does not examine, approve or insure deposit brokers.

If you want to check out a person or company selling brokered CDs, or if you want to file a complaint, a good place to start is your state government's consumer protection office, which will be listed in your local phone book and other directories, often as part of the state Attorney General's office.

If your question or complaint involves a securities broker or brokerage firm, you may want to go directly to your state securities regulator, which will be listed in your phone book or at www.nasaa.org on the Web site of the North American Securities Administrators Association. Other sources of consumer information and assistance in matters involving securities brokers and brokerage firms include the Securities and Exchange Commission (Office of Investor Education and Assistance, 450 5th Street, NW, Washington, DC 20549; www.sec.gov) and the National Association of Securities Dealers (a self-regulatory industry group at 800-289-9999; www.nasdr.com).

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Last Updated 09/08/2000 communications@fdic.gov

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