PRESS RELEASE
Federal Deposit Insurance Corporation
FOR IMMEDIATE RELEASE
February 14, 2006
Media Contact:
Jay Rosenstein (202) 898-7303 or
jrosenstein@fdic.gov
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-17-2006
FDIC Consumer News Features a Guide to Preparing Financially for Fires, Floods
and other Misfortunes
Other topics include online fraud prevention and a coming increase in FDIC insurance
for IRAs
While Hurricane Katrina was the dominant disaster story in the U.S. in 2005, fires,
floods and other misfortunes occur frequently and force people to evacuate their homes
at a moment's notice. Certainly, the first concern in an emergency should be personal
safety. But consumers also should be ready to deal with the financial challenges of a
disaster, such as having access to cash, banking services and personal identification
they need to pay for supplies or temporary housing or to conduct day-to-day money
matters. The Winter 2005/2006 FDIC Consumer News, published by the Federal
Deposit Insurance Corporation, features a guide to preparing financially for disasters
that includes practical tips on:
• Essential financial items and documents to have readily available in an emergency
evacuation bag that is waterproof, easy to carry and kept in a secure place at
home;
• Important items and documents to store away from home, perhaps in a safe
deposit box or with loved ones far away (i.e., not in the same neighborhood or
across town); and
• Why and how to be on guard against disaster-related financial scams, such as
fraudulent charities that pocket donations intended to go to victims.
Also in this issue is a collection of the FDIC's latest guidance about how to avoid identity
theft and other fraud that originates online. The information covers products and
services to consider for safe online banking, shopping and bill paying; new federal
guidelines intended to help Internet users distinguish real bank Web sites from
Federal Deposit Insurance Corporation
FOR IMMEDIATE RELEASE
February 14, 2006
Media Contact:
Jay Rosenstein (202) 898-7303 or
jrosenstein@fdic.gov
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-17-2006
FDIC Consumer News Features a Guide to Preparing Financially for Fires, Floods
and other Misfortunes
Other topics include online fraud prevention and a coming increase in FDIC insurance
for IRAs
While Hurricane Katrina was the dominant disaster story in the U.S. in 2005, fires,
floods and other misfortunes occur frequently and force people to evacuate their homes
at a moment's notice. Certainly, the first concern in an emergency should be personal
safety. But consumers also should be ready to deal with the financial challenges of a
disaster, such as having access to cash, banking services and personal identification
they need to pay for supplies or temporary housing or to conduct day-to-day money
matters. The Winter 2005/2006 FDIC Consumer News, published by the Federal
Deposit Insurance Corporation, features a guide to preparing financially for disasters
that includes practical tips on:
• Essential financial items and documents to have readily available in an emergency
evacuation bag that is waterproof, easy to carry and kept in a secure place at
home;
• Important items and documents to store away from home, perhaps in a safe
deposit box or with loved ones far away (i.e., not in the same neighborhood or
across town); and
• Why and how to be on guard against disaster-related financial scams, such as
fraudulent charities that pocket donations intended to go to victims.
Also in this issue is a collection of the FDIC's latest guidance about how to avoid identity
theft and other fraud that originates online. The information covers products and
services to consider for safe online banking, shopping and bill paying; new federal
guidelines intended to help Internet users distinguish real bank Web sites from
fraudulent ones; and a new audio-visual presentation on the FDIC's Web site about how
to protect against identity theft online.
The newsletter also includes a note about legislation to raise the federal insurance limit
for certain retirement accounts from $100,000 to $250,000. After FDIC Consumer News
went to print, Congress passed the legislation and President Bush signed it into law on
February 8, 2006. The current insurance coverage remains the same until the FDIC
adopts the necessary rule changes later in 2006. Changes in the insurance rules and
their effective dates will be noted on the FDIC Web site at www.fdic.gov and in future
issues of FDIC Consumer News.
The goal of the quarterly FDIC Consumer News is to deliver timely, reliable and
innovative tips and information on financial matters, free of charge. The Winter
2005/2006 issue is available online
at www.fdic.gov/consumers/consumer/news/cnwin0506. Current and past issues are
online at www.fdic.gov/consumers/consumer/news. The FDIC also offers a free
subscription service that provides an e-mail about each new issue posted to the Web
site and a link to stories of interest. Instructions for subscribing are posted
at www.fdic.gov/about/subscriptions/index.html.
Information in FDIC Consumer News may be reprinted in whole or in part without
permission from the FDIC. Material used should be credited to "FDIC Consumer News,
a publication of the Federal Deposit Insurance Corporation."
to protect against identity theft online.
The newsletter also includes a note about legislation to raise the federal insurance limit
for certain retirement accounts from $100,000 to $250,000. After FDIC Consumer News
went to print, Congress passed the legislation and President Bush signed it into law on
February 8, 2006. The current insurance coverage remains the same until the FDIC
adopts the necessary rule changes later in 2006. Changes in the insurance rules and
their effective dates will be noted on the FDIC Web site at www.fdic.gov and in future
issues of FDIC Consumer News.
The goal of the quarterly FDIC Consumer News is to deliver timely, reliable and
innovative tips and information on financial matters, free of charge. The Winter
2005/2006 issue is available online
at www.fdic.gov/consumers/consumer/news/cnwin0506. Current and past issues are
online at www.fdic.gov/consumers/consumer/news. The FDIC also offers a free
subscription service that provides an e-mail about each new issue posted to the Web
site and a link to stories of interest. Instructions for subscribing are posted
at www.fdic.gov/about/subscriptions/index.html.
Information in FDIC Consumer News may be reprinted in whole or in part without
permission from the FDIC. Material used should be credited to "FDIC Consumer News,
a publication of the Federal Deposit Insurance Corporation."