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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
3. Sorry, that is incorrect.

The correct answer is "True."

This is an important change because the old FDIC rules imposed limits on the insurance coverage if the trust contained such conditions, and that distinction was a source of confusion for both consumers and bankers. "This simplification of the rules will make it much more likely that families with living trust accounts will be fully protected by the FDIC if their bank fails," says FDIC Chairman Don Powell. See full story...

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Last Updated 03/04/2004 communications@fdic.gov