The Federal Deposit Insurance Corporation (FDIC) has received numerous reports of fraudulent e-mails that have the appearance of being sent from the FDIC. While the e-mails exhibit variations in the "From" and "Subject" lines, the messages are similar. The fraudulent e-mails are addressed to the attention of the “Accounting Department” and meant to notify recipients that “ACH and WIRE transactions” are being blocked until “a special security software” is installed. They then instruct recipients to go to a Web site for instructions on how to download the necessary files by clicking on a hyper-link provided (Note: the Web site addresses (URL) vary widely). This e-mail and link are fraudulent. Recipients should consider the intent of this e-mail as an attempt to collect personal or confidential information, or to load malicious software onto end users' computers. Recipients should not click on the link provided.
The FDIC does not issue unsolicited e-mails to consumers or business account holders.
Crockett National Bank is participating in the FDIC's Transaction Account Guarantee Program.
Under that program, through December 31, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.
All interest-bearing deposit accounts are insured up to at least $250,000 per depositor.
In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, from December 31, 2010, through December 31, 2012, all funds in "noninterest-bearing transaction accounts" are insured in full by the Federal Deposit Insurance Corporation. This 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 does not include any transaction account that may earn interest, such as a negotiable order of withdrawal ("NOW") account (including our 50+ checking), money-market deposit account, or Interest on Lawyers Trust Account ("IOLTA"), even if checks may be drawn on the account.
The temporary full insurance coverage of "noninterest-bearing transaction accounts" expires on December 31, 2012. After December 31, 2012, funds in noninterest-bearing transaction accounts will be insured under the FDIC's general deposit insurance rules, subject to the Standard Maximum Deposit Insurance Amount of $250,000.
For more information about FDIC insurance coverage of transaction accounts, visit http://www.fdic.gov/.