FDIC Insurance Coverage

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 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 accounts at an insurance depository institution, including all non interest bearing 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 noninterest bearing transaction accounts, visit             http://www.fdic.gov/