New FDIC Insurance Coverage Goes Into Effect Immediately:
Because of President Bush signing the Emergency Economic Stabilization Act on October 3, 2008, there will be an immediate (and temporary) effect on FDIC insurance coverage. Highlights include:
- FDIC insurance of bank deposits will be increased from $100,000 to $250,000 for all insurable accounts.
- These new limits will remain in effect through the end of 2009.
- Retirement accounts, which were already insured for up to $250,000, will remain at that level.
If you have any questions or concerns regarding your FDIC insurance coverage, contact any State Bank of Cross Plains Personal Banker today.
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