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FDIC Consumer News - Spring 1999

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 recent 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.

9. If you picked "False" you are correct. For each $100,000 joint account, your interest would be $50,000. (The interests of the co-owners are presumed equal.) This means your interest in all three joint accounts would be $150,000. But under the FDIC's rules, no one person's insured interest in all joint accounts at the same institution can exceed $100,000. You'd be uninsured in the amount of $50,000.

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Last Updated 07/28/1999 communications@fdic.gov