FDIC TRANSACTION ACCOUNT GUARANTEE PROGRAM
Effective July 1, 2010, First New Mexico Bank, Las Cruces will no longer be a participant in the TAG Program (Transaction Guarantee Program). Thus, after June 30, 2010, funds held in non-interest bearing transaction accounts will no longer be guaranteed in full under the Transaction Guarantee Program, but will be insured up to $250,000 under the FDIC’s general deposit insurance rules.
FDIC Insurance.
Basic FDIC insurance has been increased from $100,000 to $250,000 per depositor per insured financial institution until December 31, 2013.
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