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Transaction Account Guarantee Program

On July 21, 2010, Federal law permanently raised the standard maximum deposit insurance amount to $250,000. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category.

 

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

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coveage by the Federal Deposit Insurance Corporation (FDIC). Beginning    January 1, 2013, 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 of noninterest-bearing transaction accounts, visit http://fdic.gov/deposit/deposits/unlimited/expiration.html

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