May 26
2009
FDIC Deposit Insurance Coverage Limits of $250k Extended
Filed Under (Investor News) by Admin on 26-05-2009
[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]
May 26, 2009: FDIC has extended its insurance coverage limits of for $250,000 per depositor for funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs). The legislation authorizing the extension of increased insurance coverage limits is valid through December 31, 2013. This supersedes the October 3, 2008 changes.
There is no need for depositors to apply for FDIC insurance or even to request it. Coverage is automatic. We quote the details of basic coverage from FDIC’s website:
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