November 8, 2012 -
Click here for important information regarding the expiration of the Temporary Full FDIC Insurance Coverage for Noninterest-Bearing Transaction Accounts.
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 accounts 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 noninterest bearing transaction accounts, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html.
David Sumpter, VP / Relationship Manager at Lewis & Clark Bank, speaks to a packed room of 30 attendees on how your bank can help a business owner (and their advisory team) find ways to add value to a business entity through growth strategies, such as lending programs, and understanding the details within their finances.
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