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Federal Deposit
Insurance Corporation

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

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FDIC Federal Register Citations

Via email

From: Tena Chipman
Sent: Friday, July 11, 2003 12:32 PM
To: Communications

Subject: Per your request for comments regarding FDIC coverage on Living Trust Accounts, I am offering my opinion.

FDIC insurance coverage is so very hard for Bank customers to understand. I believe there are even Bank employees who truly do not understand it as well. And, a Bank employee can not possibly explain it to a customer if they do not understand it.

I vote for Proposed Rule---Alternative Two. I believe this will be the simplest, easiest and cleanest method and a lot easier for financial institutions to help explain it to their customers. We are not lawyers nor tax accountants and we should not have to "dive" into someone's trust papers and try to decide how many beneficiaries, the relationships and if they are contingencies in the trust.

Thank you.

Tena Chipman
Bloomfield State Bank
Bloomfield, IN 47424
CD/IRA Department Manager

Last Updated 07/14/2003

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