FDIC Insurance
Notice Of Expiration Of Temporary Full 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 an interest on Lawyer Trust Account) no longer will receive the unlimited deposit insurance coverage 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.
To learn how deposit insurance works and for frequently asked questions about deposit insurance, visit:
http://www.fdic.gov/deposit/