Spencer Law Firm LLC
717.207.7935 866.639.5451

October 2010 Archives

What is covered by FDIC insurance?

The Federal Deposit Insurance Corporation (FDIC) is an independent government agency and was created in 1933 during the Great Depression. Its purpose is to protect depositors in insured banks against the loss of their deposits if the bank fails. The current limit is $250,000 which was made permanent in the Dodd Frank Wall Street Reform and Consumer Protection Act which was signed by President Obama on July 21, 2010. The $250,000 limit is per depositor, per bank, for each account ownership category.

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Spencer Law Firm LLC
320 Race Ave
Lancaster, PA 17603

Toll Free: 866-639-5451
Phone: 717-207-7935
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