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

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FDIC Consumer News - Summer 2002

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.

6. Sorry, that is incorrect.

The correct answer is "False."

Co-signing a loan can be risky. It means you are guaranteeing to pay the money back if the other person doesn't. And even though you may have great trust in your friend or relative, the odds say you may indeed be called upon to pay money. See full story...

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Last Updated 08/27/2002 communications@fdic.gov