Sunday, May 16, 2010 - 6:50 AM

Increase in FDIC Coverage May Soon Be Permanent

Here's something to like in the Senate amendments to the Finance Reform Bill. The standard $250K FDIC coverage limit is currently scheduled to return to $100K on January 1, 2014. According to this AP article via Boston.com:

This amendment would make the higher limit permanent. Supported by both the banking industry and consumer advocates, it’s likely this amendment will make it through.

I'll have more on this in a future post.

Update: I have a few more details in this blog post.

KenBDG4,048 posts since
Nov 29, 2009
Rep Points: 106,905

1. Sunday, May 16, 2010 - 5:52 PM

We have been screwed around so many times on this. It seems now almost too much to hope for. Still, I do desperately hope this goes through, finally and at long last. For those with a longer term CD strategy right now, this cannot happen too soon. Otherwise we could be left come 2014 with an impossibly skyrocketing number of POD beneficiaries.

Anonymous963 posts since
May 9, 2010
Rep Points: 1,819