Each depositor insured to at least $250,000 per insured bank



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Important Update: Changes in FDIC Deposit Insurance Coverage

The FDIC deposit insurance rules have undergone a series of changes starting in the fall of 2008. As a result, certain previously published information related to FDIC insurance coverage may not reflect the current rules. For details about the changes, visit Changes in FDIC Deposit Insurance Coverage. For more information about FDIC insurance, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342). For the hearing-impaired, the number is 1-800-925-4618.

Winter 2003/2004

A Final Exam

2. Sorry, that is incorrect.

The correct answer is "True."

Historically, the FDIC pays insurance within a few days after a bank closing either by establishing an account at another insured bank or by providing a check. And remember that since the start of the FDIC in 1933, no depositor has ever lost a penny of insured deposits. Note: Deposits purchased through a broker may take longer to be paid because the FDIC may need to obtain the broker's records to determine insurance coverage.

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Last Updated 06/02/2004 communications@fdic.gov