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NOTICE
OF EXPIRATION OF THE TEMPORARY FULL 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)
no longer will receive unlimited deposit
insurance coverage by the Federal Deposit Insurance
Corporation (FDIC). Beginning January 1, 2013, all
of a depositor's account 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
($250.000), for each deposit insurance ownership
category.
For more
information about FDIC insurance coverage of
transaction accounts, visit www.fdic.gov. |
