On September 27, the FDIC Board approved the issuance of a proposed rule implementing provisions of the Dodd-Frank Act by providing unlimited deposit insurance coverage on noninterest-bearing transaction accounts from December 31, 2010 through December 31, 2012. FDIC Proposed Rule.
noninterest- bearing transaction accounts
Temporary Unlimited Coverage for Noninterest-Bearing Transaction Accounts
On November 9, the FDIC approved a final rule to implement Section 343 of the Dodd-Frank Act which provides temporary unlimited deposit insurance coverage for noninterest-bearing transaction accounts. The coverage becomes effective on December 31, 2010 and ends on December 31, 2012. FDIC Release. FDIC Rule.