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Posts tagged "General Information"

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.

Savings Bonds - Part 2 Purchase and Ownership

Savings Bonds are registered securities. They cannot be sold to anyone other than the U.S. Treasury and its agent banks. They are not marketable. Some of the consequences that follow from this status is that they can't be used a collateral for a loan and they can't be given to anyone without re-registering them. Savings bonds are also non-callable, that is, the U.S. Treasury can't force you to redeem the bonds before they stop paying interest at final maturity. Savings bonds are a completely "no-load" investment. There are never any fees for buying, selling or holding savings bonds.

What is an Annulment?

Pop singer Britney Spears married her childhood sweetheart, Jason Alexander, at the Little White Wedding Chapel in Las Vegas Saturday morning January 3, 2004 at 5:30 AM. She was escorted down the aisle by a hotel bellman. The bride wore jeans and a baseball hat. 55 hours later, on Monday morning at about 10:00 AM, Britney's attorney filed a petition for annulment of the marriage. A few hours later it was granted. Britney married Kevin Federline nine months later on September 2004.

Safe Deposit Boxes - How safe are they?

 A safe deposit box is a metal box, usually housed in a private area in a bank. There are two locks on each box. When you rent a safe deposit box, you receive one or two keys to one of the locks The bank keeps the key to the second. The keys to both locks are required for the box to be opened. Safe deposit boxes are available in a variety of sizes. The rental is payable annually, and is usually around $40 - $70. Larger boxes, of course, have higher rent.

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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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