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Deposit insurance increased
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On October 3rd, President George W. Bush signed the Emergency Economic Stabilization Act of 2008, which raises the basic limit on federal deposit insurance coverage from $100,000 to $250,000 per depositor.
The temporary increase in deposit insurance coverage became effective immediately upon the President's signature. The legislation provides that the basic deposit insurance limit will return to $100,000 on December 31, 2009.
To determine your current FDIC insurance coverage, stop by any of our local MBank offices today.
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