Spread Association Deposits Over $250K Across Several FDIC-Insured Institutions
On July 21, 2010, basic FDIC insurance coverage was permanently increased to $250,000 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Federal Deposit Insurance Corporation (FDIC) insures the safety of checking and savings deposits in member banks. The standard maximum insurance amount of $100,000 had been temporarily raised through Dec. 31, 2013. That increase is now permanent.
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