International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Saturday, January 28, 2017

FDIC Consumer News Answers Common Questions on How to Avoid Financial Mistakes and Protect Your Money

Each year, thousands of consumers contact the FDIC with questions about financial services and products such as mortgages, checking accounts and credit cards. The Winter 2017 640px-FdicLogoFDIC Consumer News focuses on common concerns we hear from consumers and offers tips for solving and avoiding problems. Some topics include:

  • What to do if a credit card bill shows a charge you did not make;
  • Where to go for help if you can't access funds on your prepaid card;
  • How to handle an email that appears to be from your bank and that asks for personal information; and
  • Understanding your options if you're turned down for a checking account.

Consumers also frequently contact the FDIC to determine whether their deposit accounts are fully insured. The latest FDIC Consumer News provides an overview of "EDIE," the FDIC's simple online tool for estimating deposit insurance coverage. Users can input dollar amounts they have on deposit in a bank or hypothetical amounts they may want to deposit. If the results show there may be uninsured funds, EDIE will show the amount and the category that is over the FDIC insurance limit. EDIE is available at www.fdic.gov/edie.

Also included in the latest issue of FDIC Consumer News is information for bank customers about recent guidance issued by the FDIC and other federal regulators related to deposit account errors.

The Winter 2017 FDIC Consumer News can be read or printed at www.fdic.gov/consumers/consumer/news/cnwin17, with e-reader and portable audio (MP3) versions forthcoming. Additionally, in the coming weeks a Spanish-language version will be posted at www.fdic.gov/quicklinks/spanish.html.

https://lawprofessors.typepad.com/intfinlaw/2017/01/fdic-consumer-news-answers-common-questions-on-how-to-avoid-financial-mistakes-and-protect-your-money.html

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