FDIC: There Is No Such Thing As An “FDIC Fee” To Bank Customers

The FDIC has sent a letter to its insured banks to remind them of this fact. It says it has "received a number of complaints from depositors" about tacked-on fees with labels like "FDIC assessment," "FDIC insurance premium," or "FDIC insurance charge."

The letter explains that these names not only mislead consumers into thinking that these fees are coming directly from the FDIC, but could also "reveal information that could be used to determine an institution's confidential supervisory ratings."

The Consumerist » FDIC: There Is No Such Thing As An “FDIC Fee” To Bank Customers