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

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FDIC Consumer News - Summer 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.

6. If you picked "True" you are correct.

Also, the FDIC will pay your insured deposits, including principal and interest, as soon as possible after a bank fails, usually the next business day. In most cases, the FDIC will arrange for the failed bank's depositors to become customers of a healthy bank, and depositors will have prompt access to their insured funds through the new bank. See full story...

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Last Updated 09/15/2003 communications@fdic.gov