Alert August 17, 2010

FDIC Adopts Final Rule to Conform FDIC Regulations on Deposit Insurance Coverage and Advertisements to Permanent Standard Maximum Deposit Insurance Amount of $250,000

The FDIC Board of Directors adopted a final rule (discussed in FDIC Financial Institution Letter, FIL 49-2010) amending its deposit insurance and advertising of FDIC membership regulations to conform with provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act that permanently increase the standard maximum deposit insurance amount, effective July 22, 2010, from $100,000 to $250,000.