- FDIC: Consumer Assistance Topics
- FDIC: Deposit Insurance
- FDIC: What the Public Needs to Know About FDIC Deposit Insurance and Crypto Companies
- FinCEN: Notice to Customers - A CTR Reference Guide
- Federal Trade Commission: Report Identity Theft and Get a Recovery Plan
- CFPB: Resources to Help You Avoid Scams
- CFPB: Money Ideas for Teenagers and Young Adults
- CFPB: Resources for Older Adults and Their Families
NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NON INTEREST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013 funds deposited in a non interest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all non interest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
For more information about FDIC insurance coverage of non interest-bearing transaction accounts, visit the FDIC website.
USA PATRIOT ACT
The tragedies of September 11, 2001 resulted in federal legislation designed to help America fight terrorism, money laundering, and identity theft. An acronym for “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism,” section 326 of the USA PATRIOT Act applies to all financial institutions.
At a minimum, the Act requires financial institutions to implement reasonable procedures for (1) verifying the identity of any person seeking to open an account; (2) maintaining records of the information used to verify the person’s identity; and (3) determining whether the person appears on any lists of known or suspected terrorists. You can help by providing us with the information we’re required to gather.
Effective October 1, 2003, persons wishing to establish a new account must complete a new account application and furnish the bank with, at a minimum, the following information and documents:
- Full legal name
- Any names used as an alias
- Mailing address
- Physical address if mailing address is a post office box
- Driver’s license or other government issued photo i.d.
- Tax identification number
- Date of birth
The following alternative documents may be submitted in the case of non-resident persons:
- INS card
Please be patient as we work together to comply with this legislation. TOGETHER, we can help protect your identity and America’s security.
UNLAWFUL INTERNET GAMBLING ENFORCEMENT ACT (UIGEA) OF 2006
The UIGEA, signed into law in 2006, prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. The Department of the Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.
As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made."
As a customer of First Federal Savings Bank of Angola, these restricted transactions are prohibited from being processed through your account or banking relationship with us. If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.
Please see one of our Customer Service Representatives if you would like additional information on UIGEA or Regulation GG.