Each depositor insured to at least $250,000 per insured bank

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FDIC Consumer News - Spring 2003

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.

Special Report on Fraud

Does the FDIC Cover Losses Due to Fraud?

Consumers often ask the FDIC whether federal deposit insurance covers losses caused by fraud or robbery. By law, the FDIC only protects insured deposits if a banking institution fails. However, banks and other financial institutions typically purchase special private insurance policies to cover losses from criminal acts. Also remember that federal and state laws also may limit a consumer's losses due to fraud (see Federal Laws Protecting You Against Fraud).

To learn more about what is and is not protected by FDIC insurance, read our brochure "Insured Or Not Insured," available online at www.fdic.gov/consumers/consumer/information/fdiciorn.html or obtain a copy free of charge from the FDIC's Public Information Center.

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Last Updated 06/18/2003 communications@fdic.gov