Federal Deposit Insurance Corporation

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FDIC Moves to Increase Deposit Insurance Coverage for Servicers 

Oct 14, 2008By

The FDIC said late Friday that it had adopted an interim final rule designed to simplify the deposit insurance rules for accounts held at FDIC-insured institutions by mortgage servicers. In essence, the change will prevent mortgage servicers from withdrawing their deposits at banks — a timely change, given the importance of maintaining deposit coverage.

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