Increase in FDIC Insurance Coverage
On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law, which, in part, permanently raises the current standard maximum deposit insurance amount (SMDIA) to $250,000. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category. Consumers and bankers can find additional information regarding FDICís deposit insurance coverage through the use of the FDICís Electronic Deposit Insurance Estimator (EDIE) and deposit insurance publications located on the FDICís website Are My Deposits Insured? In addition, they can call the FDIC at 1-877-ASK-FDIC (1-877-275-3342).
For more information about FDIC insurance coverage, visit www.fdic.gov.