NOTICE OF EXPIRATION OF THE TEMPORARY FULL
FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a
noninterest-bearing transaction account (including an Interest on Lawyer Trust
Account) no longer will receive unlimited deposit insurance coverage by the
Federal Deposit Insurance Corporation (FDIC). Beginning January 1st, 2013,
all of a depositor's accounts at an insured depository institution, including
all noninterest-bearing transaction accounts, will be insured by the FDIC up to
the standard maximum deposit insurance amount ($250,000), for each deposit
insurance ownership category.
For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit:
www.fdic.gov |