NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS

 

 

Beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive separate unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC).  Effective January 1 all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category

 

For more information about FDIC insurance coverage on noninterest-bearing transaction accounts, visit: http://www.fdic.gov/deposit/deposits/unlimited/expiration.html