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

The correct answer is "True."

Under the rules, which became mandatory October 1, 2003, financial institutions generally are required to ask each customer for their name, address, date of birth and tax identification number (usually a Social Security number) when opening a new account. Foreign nationals without a U.S. taxpayer ID number could provide a similar government-issued identification number, such as a passport number. See full story...