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.

Spring 2005 - A Special Guide for Young Adults

The Right Way to Right A Wrong
How to fix a problem with a financial institution

Got a question or a complaint involving a financial institution but you're not sure about the best or quickest ways to resolve the matter? Here's a good game plan.

  1. Contact the institution directly. Experience has shown that's the quickest way to resolve most problems. Also keep your cool. Be as professional as possible.

  2. Put your complaint in writing, even if you also call the institution. Some consumer protection laws require that written complaints be filed. Be sure to send your letter to the address that the institution recommends for complaints and keep a copy of all correspondence and supporting documents. With phone calls, get the name of the person you spoke to and keep good notes of your conversation, including the date.

  3. Act as soon as possible. Some laws require consumers to report a problem within a certain time period to be fully protected.

  4. If you can't fix a problem on your own you may contact the institution's government regulator for help or guidance. To find out who regulates a bank or other deposit-taking institution, you can write or call the FDIC (see For More Information). Find contact information and tips for solving problems with non-bank financial companies, such as insurance companies or brokerage firms, at www.consumeraction.gov, which features the federal government's Consumer Action Handbook.

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Last Updated 5/17/2005