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Federal Deposit
Insurance Corporation

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

Press Releases

FDIC Consumer News Answers Common Questions on How to Avoid Financial Mistakes and Protect Your Money

FOR IMMEDIATE RELEASE
January 23, 2017
Media contact:
Jay Rosenstein
(202) 898-7303
jrosenstein@fdic.gov

Each year, thousands of consumers contact the FDIC with questions about financial services and products such as mortgages, checking accounts and credit cards. The Winter 2017 FDIC Consumer News focuses on common concerns we hear from consumers and offers tips for solving and avoiding problems. Some topics include:

Consumers also frequently contact the FDIC to determine whether their deposit accounts are fully insured. The latest FDIC Consumer News provides an overview of "EDIE," the FDIC's simple online tool for estimating deposit insurance coverage. Users can input dollar amounts they have on deposit in a bank or hypothetical amounts they may want to deposit. If the results show there may be uninsured funds, EDIE will show the amount and the category that is over the FDIC insurance limit. EDIE is available at www.fdic.gov/edie.

Also included in the latest issue of FDIC Consumer News is information for bank customers about recent guidance issued by the FDIC and other federal regulators related to deposit account errors.

The Winter 2017 FDIC Consumer News can be read or printed at www.fdic.gov/consumers/consumer/news/cnwin17, with e-reader and portable audio (MP3) versions forthcoming. Additionally, in the coming weeks a Spanish-language version will be posted at www.fdic.gov/quicklinks/spanish.html.

About FDIC Consumer News

The goal of FDIC Consumer News is to deliver timely, reliable and innovative tips and information about financial matters, free of charge. To find current and past issues, visit www.fdic.gov/consumernews, or request paper copies by contacting the FDIC's Public Information Center in writing at 3501 North Fairfax Drive, Room E-1002, Arlington, VA 22226, by emailing publicinfo@fdic.gov, or toll-free at 1-877-275-3342.To receive an email about each new issue of the quarterly FDIC Consumer News with links to stories, go to www.fdic.gov/about/subscriptions/index.html.

The FDIC encourages financial institutions, government agencies, consumer organizations, educators, the media, and anyone else to help make the tips and information in FDIC Consumer News widely available. The publication may be reprinted in whole or in part without permission. Please credit FDIC Consumer News. Organizations also may link to or mention the FDIC website.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's banks and savings associations, 5,980 as of September 30, 2016. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars—insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-5-2017

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