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Does FDIC Insurance Cover Authorized Signer?

Answered by: 

Question: 
Does FDIC Insurance cover an authorized signer on a deposit account (for example: individual or joint checking account with one authorized signer).
Answer: 

No. The authorized signer has no ownership interest in the account, so he or she receives no benefit from deposit insurance.

First published on BankersOnline.com 12/3/12

First published on 12/03/2012

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