We get a lot of calls about the status of the Federal Deposit Insurance Corporation's guarantee of deposits in FDIC insured bank accounts. The current $250,000 limit has been extended by the FDIC until the year 2014. It was originally scheduled to have reverted to the old $100,000 limit at the end of 2009. The additional $250,000 amounts for IRA's and certain retirement accounts has been made permanent.
If you want to know how these limits apply check out the ESTIMATOR that is put out by the FDIC.
Monday, September 21, 2009
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