FDIC Insurance Coverage for Transaction Accounts
Notice of Expiration of The Temporary Full FDIC Insurance Coverage for Noninterest-Bearing Transaction Accounts
Notice: By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an interest on Lawyer Trust Account/IOLTA) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC).
Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance ownership category. For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit:
http://www.fdic.gov/deposit/deposits/unlimited/expiration.html or go to "What's New" on www.fdic.gov.