FDIC Sheds Qualifying Beneficary Coverage Rule

FDIC Sheds Qualifying Beneficary Coverage Rule

The FDIC is going to make two changes to their coverage. One affects beneficiaries and one affects trust accounts, according to a bank insider who participated in teleconference call the FDIC held banks this morning as a refresher course on FDIC coverage. The big news is that the “qualifying beneficiary” rule is gone. Here’s the specifics: