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FDIC Deposit Insurance
On May 20, 2009,
President Barack Obama signed the Helping Families Save
Their Homes Act, which extends the temporary increase in the
standard maximum deposit insurance amount (SMDIA) to
$250,000 per depositor through December 31, 2013. This
extension of the temporary $250,000 coverage limit became
effective immediately upon the President's signature. The
legislation provides that the SMDIA will return to $100,000
on January 1, 2014. |