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This week we are talking about FDIC insurance. Last year, the limit was increased from $100k to $250k. This increase was meant to be temporary. By law, it will return to $100k on January 1st, 2010, but there are a couple of exceptions. Retirement accounts, such as an IRA will still be covered up to $250k. The other exception relates to certain checking accounts in some situations. If you have over $250k in a checking or similar account, call your bank to see if that account qualifies. What is covered by FDIC insurance? Checking, savings, and CDs are the most common accounts covered. Investments, even if they are purchased through a bank are not covered. FDIC insurance doesn't cover everything. Don't assume it applies to all of your business at a bank. You may visit for a specific list of what is covered, or call your institution and ask. We have seen many banks fail this year. What happens when a bank fails? We will discuss that tomorrow.

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