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FDIC Limits Insurance with Tricks

yogibearbullyogibearbull
edited April 1 in Other Investing
FDIC Limits Insurance with Tricks

Gone are days for piling on the FDIC insurance at the same bank with various tricks - trusts, POD/TOD, etc.

The basic FDIC insurance is still $250,000, but that using all tricks at the same bank is $1,250,000.

These rules will apply to new accounts, and retroactively to existing accounts.

It's no April Fools' joke (4/1/24 release).

https://edie.fdic.gov/index.html
https://www.fdic.gov/news/fact-sheets/final-rule-trust-mortgage-accounts-01-21-22.pdf

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