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FDIC Consumer News

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.

Fall 2007

FDIC, Other Government Agencies Working to Help Borrowers

Banking and mortgage industry regulators, Congress and other government officials at the federal and state levels have been responding to the recent difficulties in the real estate market. "Working with our federal and state regulatory counterparts, insured institutions, the Congress, and other parties, we are eager to help find solutions for borrowers who have mortgages they cannot afford," said FDIC Chairman Sheila C. Bair.

As FDIC Consumer News went to print, Congress was considering various legislative proposals relating to mortgage lending. Federal and state government banking regulators, including the FDIC, have been encouraging financial institutions to identify creditworthy borrowers who may have mortgages they cannot afford and to contact these customers and pursue appropriate strategies to avoid foreclosures. The Federal Housing Administration has announced new programs to help borrowers. And, state regulators are developing a new nationwide system for licensing mortgage lenders and brokers, and are working to enhance consumer protections.

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Last Updated 11/08/2007

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