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Deposit InsuranceNew Deposit Insurance LimitsThe Dodd-Frank Wall Street Reform and Consumer Protection Act signed by President Obama on July 21, 2010, made permanent the current standard maximum deposit insurance amount (SMDIA) of $250,000.00. The FDIC coverage limit applies per depositor, per insured depository institution, for each account ownership category. To learn more about FDIC deposit insurance, please visit FDIC - EDIE The Estimator. Notice of Changes in Temporary FDIC Insurance Coverage for Transaction AccountsAll funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010 through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000.00 available to depositors under the FDIC’s general deposit insurance rules. The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include any transaction accounts that may earn interest, such as NOW accounts and money market accounts. For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov. |
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