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NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
By Federal Law, beginning January 1, 2013 funds deposited in a noninterest-bearing transaction account (including an interest on Lawyer Trust Account or IOLTA/IOLA) will no longer received unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC).
Beginning January 1, 2013, all of a depositor’s accounts will be insured by the FDIC up to the standard maximum deposit insurance amount of $250,000.00 for each deposit insurance ownership category.
For more information, visit www.fdic.gov/deposit/deposits/unlimited/expiration.html.