X

Comment Deadline Set for FDIC Proposal on Deposit Insurance Coverage for Trusts and Mortgage Accounts

FDIC-proposed amendments to deposit insurance coverage rules that would simplify and expand deposit insurance for trusts and mortgage accounts were published in the Federal Register. The proposed amendments would (i) merge revocable trusts and irrevocable trusts under a newly established "trust accounts" category and (ii) provide consistent treatment for mortgage servicing accounts comprised of principal and interest funds.

Comments on the proposal must be received by October 4, 2021.

Primary Sources

  1. Federal Register: Simplification of Deposit Insurance Rules

Related Articles

Premium Content

Available only to Premium subscribers.

 

Join Premium

US Regulatory Intelligence combines regulatory and enforcement news, analysis, and practical work tools on an easy-to-use digital platform.

Request a Free Trial

Tags

Regulated Entities
Banking Entities
Sub-Entity
Federal Savings Assoc., National Banks, State Member Banks, State Non-Member Banks, State Savings Associations
Regulated Products
Bank Products
Sub-Product
Deposit Insurance, Bank Deposits (CDs)
Body of Law
Banking Law
Jurisdiction
US - Federal
Organization
US Banking Regulators
Sub-Author
FDIC