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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.

Special 10th Anniversary Edition - Fall 2003

Illustration of a woman and a man looking through an open filing cabinet which is labeled "Financial Services". Tips You Can Bank On: An FDIC Guide to Being a Smarter, Safer Financial Consumer
Everyone can use some help managing their money. On the 10th anniversary of our newsletter, we offer a collection of simple, common-sense strategies for saving and shopping for your family's financial needs.

To quote a popular bumper-sticker, "If you think education is expensive, try ignorance."

We at the Federal Deposit Insurance Corporation believe there is a lot of truth in that statement, because when it comes to your money, what you don't know can hurt you.

"Financial education is the consumer's first line of defense against fraud, abuse, and mismanagement of their finances," says Donna Gambrell, Deputy Director of the Division of Supervision and Consumer Protection at the FDIC.

The more people know about saving and managing their money, Gambrell adds, the more likely they are to become financially independent, own their own home, steer clear of scams, and shop wisely for goods and services.

The FDIC is doing its part to help consumers learn about their rights, responsibilities and options in today's financial marketplace. Our services include a toll-free consumer hotline (877-275-3342), a Web site (www.fdic.gov) offering quick and easy access to useful consumer information, and a financial literacy program called "Money Smart" that educators use to teach money management skills to people who've had little or no experience with bank accounts. And exactly 10 years ago, the FDIC did something unusual for a government agency — we started a consumer newsletter.

The goal of FDIC Consumer News is to deliver timely, reliable and innovative tips and information, in plain English and free of charge, to help people protect and stretch their hard-earned money. We know from the results — including media coverage of our topics and suggestions and the many letters we receive from consumers — that our newsletter is making a difference.

In recognition of the 10th anniversary of FDIC Consumer News, we have issued this special report. It's a collection of some of the more popular articles from previous editions — condensed and updated to help you save and shop for your family's short-term financial needs and long-term security.

Everyone can use some help managing their money… and helping to ensure your financial future is what the FDIC is all about. So, let's get started!
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Last Updated 12/12/2003 communications@fdic.gov

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