On August 10, 2010, the FDIC Board of Directors amended its insurance and advertising regulations to conform with the provisions of the Dodd-Frank Wall Street Report and Consumer Protection Act, which permanently increased the standard maximum deposit insurance amount from $100,000 to $250,000. This permanent increase became effective on July 22, 2010.
NOTICE: By federal law, as of January 1, 2013, funds in a noninterest-bearing transaction account (including an IOLTA/IOLA) will no longer receive unlimited deposit insurance coverage, but will be FDIC-insured to the legal maximum of $250,000 for each ownership category. For more information, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html.*