FDIC Insurance Limit Increase Extended
As part of the Emergency Economic Stabilization Act of 2008 signed by President Bush in October of last year, the basic limit on federal deposit insurance coverage was increased from $100,000 to $250,000 per depositor. Initially designed as a temporary increase in the coverage limit set to expire at the end of 2009, the $250,000 limit has now been extended until the end of 2013 as part of the Helping Families Save Their Homes Act signed by President Obama on May 20, 2009.
