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FDIC Changed Deposit Insured Amount to $100,000?

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Question: 
Has the FDIC changed the deposit insured amount to $100,000 except for IRA and those will be at $250,000?
Answer: 

When the "SMDIA" (Standard Maximum Deposit Insurance Amount) was first raised to $250,000, it was on a temporary basis. But section 335(a) of the Dodd-Frank Act made the $250,000 coverage amount permanent.

Any suggestion that the FDIC has reduced the SMDIA to $100,000 is based in rumor, not in fact.

First published on 03/10/2014

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