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FDIC
Fraudulent Emails
The Federal Deposit Insurance Corporation
(FDIC) has received numerous reports from consumers who received
an e-mail that has the appearance of being sent from the FDIC.
The e-mail informs the recipient that "in cooperation with
the Department of Homeland Security, federal, state and local
governments…" the FDIC has withdrawn deposit insurance
from the recipient's account "due to account activity that
violates the Patriot Act." It further states deposit insurance
will remain suspended until identity and account information can
be verified using a system called "IDVerify."
If consumers go to the link provided in the e-mail, it is suspected
they will be asked for personal or confidential information, or
malicious software may be loaded onto the recipient's computer.
This e-mail is fraudulent. It was not sent by the FDIC. It is
an attempt to obtain personal information from consumers. Financial
institutions and consumers should NOT access the link provided
within the body of the e-mail and should NOT under any circumstances
provide any personal information through this media.
The FDIC is attempting to identify the source of the e-mails and
disrupt the transmission. Until this is achieved, consumers are
asked to report any similar attempts to obtain this information
to the FDIC by sending information to alert@fdic.gov.
Mandatory
Electronic Benefit Payments
The US Treasury now requires
that anyone receiving federal benefits and non-tax payments must
receive them electronically. The rule specifies that:
• Anyone applying for benefits on or after May 1, 2011,
must receive their payments electronically
• Those already receiving paper checks will need to switch
to direct deposit by March 1, 2013
Please
log-on to www.GoDirect.gov
or contact a Community State Bank Account Representative for more
information.
UPDATE
JAN 31, 2011 - Notice of Changes in Temporary FDIC Ins Coverage
for Transaction Accounts
All funds in a “noninterest-bearing
transaction account” are insured in full by the Federal
Deposit Insurance Corporation from December 31, 2010, through
December 31, 2012. This temporary 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 also includes Interest on Lawyers Trust Accounts (“IOLTAs”).
It does not include other accounts, such as traditional checking
or demand deposit accounts that may earn interest, NOW accounts
and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of
transaction accounts, visit www.fdic.gov.
New Credit Card Rules
Have
You Prepared Your Will?
Do
Your Children Know the Financial Facts of Life?
Money
Pass
Living
On a Budget
Avoid
Holiday Stress by Planing Ahead
Don't
Be Taken In By Phony Charities
A
Financial Tips Checklist to Fall Back On
Improving
your credit score
Understanding
Your Checking Account
What’s
Your Financial Vocabulary IQ?
What's
In The Box?
Millions of Americans rent a safe deposit box from their bank.
Before renting, you need to make sure you understand how it works
Play
It Safe In your ATM Transactions
The Use of ATMs continues to grow at record rates. Its estimated
that there are more than 1.5 million machines installed worldwide
and new ATMs installed every five minutes.
Can
You Afford Retirement?
In the past, Americans looked forward to retirement. They made
plans to travel, spend time at the fishing hole and enjoy the grandkids.
Now, more and more of us are delaying retirement just to get by.
Identity
Theft: Avoid Becoming A Victim
Up to 500,000 individuals are victims each year of identity
theft, a fast-growing form of fraud. Fortunately, a few simple steps
can help ensure you stay out of these statistics.
Individual
Retirement Accounts: Better Than Ever!
An Individual Retirement Account (IRA) is an excellent tool for
retirement savings. Unlike most investments, depending on the type
of IRA you choose, contributions may be tax deductible and will
grow either tax-deferred or tax-free.
Understanding
Your Credit Score
Before making a major purchase such as a home or automobile, there
are two reports you should check.
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