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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 1,
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 http://www.fdic.gov/deposit/deposits/unlimited/expiration.html |