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Important Update: Changes in FDIC Deposit Insurance Coverage

The FDIC deposit insurance rules have undergone a series of changes starting in the fall of 2008. As a result, certain previously published information related to FDIC insurance coverage may not reflect the current rules. For details about the changes, visit Changes in FDIC Deposit Insurance Coverage. For more information about FDIC insurance, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342). For the hearing-impaired, the number is 1-800-925-4618.

Winter 2006/2007 Special Edition: Be Prepared, Be Informed, Be in Charge

A Final Exam: Test Your Money Management IQ

  1. If you've been happy with your bank, there's no reason to compare its products with those of competitors because bank products, rates and fees are pretty much the same everywhere. True or False?
  2. When exercising your right under federal law to obtain a free copy of your credit report each year from each of the three nationwide credit bureaus, you can spread out your three requests throughout the year (to get periodic updates on what is being reported about you) instead of ordering the reports at the same time. True or False?
  3. If you deposit a check from a stranger, you should wait about two or three days before spending that money or handing over anything of value. That's enough time for the bank to discover if the check is fraudulent. True or False?
  4. It is possible for you to have more than $100,000 on deposit at one FDIC-insured bank and still be fully insured. True or False?
  5. A death in the family can reduce the FDIC insurance coverage of bank accounts for which the deceased was a co-owner. True or False?
  6. To dispute a charge on your credit card bill, a phone call to your creditor is sufficient under the federal Fair Credit Billing Act. You don't need to write a letter to your card company to protect your consumer rights against an error. True or False?

 

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Last Updated 1/26/2007

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