NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
UPCOMING CHANGES FOR PURCHASING SAVINGS BONDS
According to the U.S. Treasury, as of January 1, 2012, paper savings bonds will no longer be sold at financial institutions. After this date, savings bonds must be purchased electronically through TreasuryDirect. Those currently holding paper savings bonds can continue to redeem the paper bonds at financial; institutions.
Click here for more information at the TreasuryDirect website.
EMAIL SCAMS ABOUT IRS TAX PAYMENTS
Consumers should be aware of a scam e-mail about an electronic federal tax payment the e-mail claims they tried to make or which specifies the Electronic Federal Tax Payment System (EFTPS). The e-mail states that tax payments made by the e-mail recipient have been rejected.