FDIC has no requirement to inform depositors

On October 3, Congress raised the basic FDIC coverage on bank accounts $250,000 per depositor per institution. But - this $250,000 insurance limit reverts to $100,000 after Dec. 31, 2009. Although the FDIC knew that 10,000 IndyMac depositors exceed limits and many more will now, they still have not imposed any "requirement to inform depositors when their accounts go 'over'" on member banks. Even if you take out a $250,000 15 month CD now, you are not covered for more than $100,000 beyond 12-31-2009. The FDIC can easily require member banks to inform depositors when accounts go over. The technology exists to do this easily. (www.fdicbusinessalert.com)
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ID
#140459 Review #140459 is a subjective opinion of poster.
Location
San Francisco, California

Bank robbery

I bought 2 CDs on the phone (no branch in N CA)- I faxed the info on my beneficiaries a few weeks after- the bank failed and the FDIC said there was nothing on file for my beneficiaries- lost 50k because of bank negligence- I want to start a class action suit- I was ROBBED!!!! I feel helpless and frustrated and completely devastated- the FDIC reps were useless and stand behind the bank documents- the govt has let me down and I am sure many other Americans feel the same way- the FDIC agrees that the bank made many mistakes and employees were inept- I feel legally raped and robbed
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ID
#130301 Review #130301 is a subjective opinion of poster.
Location
Las Vegas, Nevada

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