NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NON INTEREST
BEARING TRANSACTION ACCOUNTS
Notice: By origination of Federal Law, beginning January 1, 2013, funds deposited in non- interest bearing transaction account (including an Interest on Lawyer Trust Account / IOLTA) will no longer receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corperation, FDIC.
Beginning January 1, 2013, all of a depositors accounts with an insured depository institution, including all non-interest bearing transaction accounts, will be insured by the FDIC up to maximum FDIC Insurance caverage amount up to $250,000.00 for each FDIC account ownership category.
For more information about FDIC Insurance Coverage for non-interest bearing transaction accounts please click here.