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By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest bearing transaction account including (Interest on Lawyers Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013 all of a depositors accounts at an insured depository institution, including all noninterest bearing accounts will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000.00), for each deposit insurance ownership category.
For more information, visit
http://www.fdic.gov/deposit/deposits/unlimited/expiration.html
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