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FDIC Consumer News - Spring 1998

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.

New FDIC Program to Help Consumers Avoid
and Report Fraudulent Internet Banks

As we’ve warned elsewhere in this issue and in previous editions of our newsletter, unscrupulous people and groups establish Internet sites that claim to be insured banks when, in fact, they don’t have a legitimate banking charter and are not FDIC-insured. Consumers who send money to a bogus bank run the risk of losing their funds. To help get these sites off the ‘Net , the FDIC is developing a new service on our Internet home page (www.fdic.gov) that will enable consumers to check the validity of a bank Web site (before they do business) and to report suspicious new sites via an e-mail to the FDIC. The system is expected to be up and running soon, so watch for more details in an upcoming FDIC Consumer News and on the FDIC home page.

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Last Updated 08/03/1999 communications@fdic.gov