Related Consumer Finance Programs - The following sub-directories of companies offer a wide variety of financial programs to assist you with the management of your finances. Consolidate debt with a consolidation loan or use a debt counseling service or mortgage refinance for help with the consolidation of your charge card debt and other monthly payments.
- Consumer Debt Management - Too many credit cards and other bills to make monthly payments on? Start here by reviewing and comparing different debt management options for getting help with your credit card bills and other monthly obligations.
- Debt Settlement Help - Too much debt? List of companies providing this alternative to bankruptcy that provides for debt negotiation and arbitration services for those that need to eliminate debt.
- Personal Loan Rates - Looking for a personal loan to consolidate your credit cards? These loans are usually unsecured, meaning you are not required to provide collateral. Approval is often based upon factors as your income, credit and job history.
FDIC Insurance: Do You Know As Much As You Think You Know?
Misconceptions: A Top 10 List
Misconception Number 4: The FDIC only pays failed-bank depositors a percentage of their insured funds.
All too often we receive questions similar to this one: "Is it true that if my FDIC-insured bank fails, I would only get $1.31 for every $100 in my checking account?" As with "misconception number 3," this misinformation appears to be spread by some financial advisors and sales people.
Federal law requires the FDIC to pay 100 percent of the insured deposits up to the federal limit — including principal and interest. If your bank fails and you have deposits over the limit, you may be able to recover some or, in rare cases, all of your uninsured funds. However, the overwhelming majority of depositors at failed institutions are within the insurance limit, and insured funds are always paid in full.
FDIC Consumer News is published by the Federal Deposit Insurance Corporation
FDIC Consumer News is produced quarterly by the FDIC Office of Public Affairs in cooperation with other Divisions and Offices. It is intended to present information in a nontechnical way and is not intended to be a legal interpretation of FDIC or other government regulations and policies. Mention of a product, service or company does not constitute an endorsement.
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Last updated on 5/09/2006