NOTICE OF EXPIRATION OF THE 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 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.
For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit www.fdic.gov.*
The FDIC has an Electronic Deposit Insurance Estimator (EDIE the Estimator) that is designed to help consumers to calculate deposit insurance. The estimator is located at http://myfdicinsurance.gov.*
*Abacus is not responsible for the information practices employed by sites linked to or from our website. In most cases, links to non-Abacus websites are provided solely as pointers to information on topics that may be useful to the users of the Abacus website. Third party websites may have different privacy policies and/or security standards governing their sites.