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

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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.

Spring 2005 - A Special Guide for Young Adults

Some Federal Laws Protecting Consumers

The Electronic Fund Transfer Act limits a consumer's liability if there's been an unauthorized use of an ATM card, debit card or other electronic banking device.

The Equal Credit Opportunity Act prohibits discrimination against loan applicants based on race, sex, age (provided that the applicant is eligible to enter into a binding contract), marital status, religion, national origin or receipt of various types of government assistance.

The Fair Credit Billing Act establishes procedures for correcting errors on credit card bills. This law also allows a card user to dispute a purchase made with a card.

The Truth in Lending Act requires creditors to give consumers information about the Annual Percentage Rates and other costs of a credit card or loan. This law also protects consumers if a credit card is lost or stolen.

The Truth in Savings Act requires disclosures about interest rates and fees and prohibits misleading or inaccurate advertising for checking and savings accounts.


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Last Updated 5/17/2005