Extension of FDIC’s $250,000 Deposit Insurance Limit Signed Into Law

According to a newsletter sent by MoneyAisle, President Obama has signed an extension to the recently increased FDIC limits into law.  Now, the temporary increase in deposit insurance that was established on October 14 will no longer end on December 31, 2009 but is due to end on December 31, 2013.  Though it’s not the permanent increase that many [...]

Posted Under: Banking News,Bankmode Buzz,FDIC
This post was written by Mode on May 22, 2009 Comments (1)

What is FDIC ?

The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass-Steagall Act of 1933. It provides deposit insurance which guarantees the safety of checking and savings deposits in member banks, currently up to $250,000 per depositor per bank. On January 1, 2010, the standard coverage limit will return to $100,000 [...]

Posted Under: FDIC
This post was written by Mode on December 2, 2008 Comments (0)

FDIC

FDIC – $250,000 GUARANTEE

Posted Under: FDIC
This post was written by Mode on November 29, 2008 Comments (0)