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Home / Services / Calculators / Newsletter / Archives FDIC Insurance Both the House of Representatives and the Senate are considering bills to increase the Federal Deposit Insurance Corporation coverage from $100,000 to $130,000. This new amount would be indexed for inflation. This will be the first increase in coverage since 1980. The $100,000 limit has been eroded by inflation to be only half of what it was worth 23 years ago. This $100,000 limit applies to each account of a different type, such as savings, checking or retirement account that a depositor has with a financial institution. These bills H.R.522 and S.229 would also mandate the merger of the Bank Insurance Fund and Savings Association Insurance Fund into new Deposit Insurance Fund. (May, 2003 Newsletter)
James E. Newland, CPA 939 Center Road Eastlake, Ohio 44095 440-951-9799 |
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