NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) will no longer 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 amount of $250,000, for each deposit insurance ownership category.
For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit https://www.fdic.gov/deposit/.
Below are a few additional resources from the FDIC you might find helpful.
For more information about the FDIC, please visit their website at www.fdic.gov or, as always feel free to visit in person or speak via telephone with one of our experienced personal bankers today. They are ready to answer any questions you might have. Visit any of our convenient branch locations, contact us at 404.248.LION (5466) or toll free at 888.248.LION (5466) or visit us online at www.lionbank.com twenty-four hours a day, seven days a week.
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