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City National Bank Reserves Right To Charge Its FDIC Insurance Costs To Checking, Savings, Etc. Account Customers.

Thursday, August 11, 2011 - 4:34 PMCity National Bank (CA)
City National Bank, effective October 1, 2011, reserves the right to charge its checking, savings, and money market account customers for the Bank's FDIC insurance coverage, with a charge that can vary monthly.  This is in addition to all other applicable fees.

CNB can just do this, after October 1, 2011, without any advance notice. 

CNB says in its disclosure document that the charge, if assessed, "will be determined by CNB based upon the ratio of the total amount of CNB's FDIC assessment for insurance coverage to the amount of your total funds on deposit during the assessment period....".

CNB's phone number is 800 773-7100.  I am getting the run around as to how much this charge might be monthly, and promised return calls have not been forthcoming.

Are other banks doing this, and I perhaps just missed it?
CAfriendCAfriend2 posts since
Aug 2, 2011
Rep Points: 8