San Mateo, Calif. (Business Wire) 20 June 2007

The Federal Deposit Insurance Corporation (FDIC) has just 74 years – an excellent opportunity for Americans to update their conscious decision as to protect the FDIC works and what they can to secure their money after Andrew Housser, Co-CEO of free online consumer portal Bills.com Finance (www.bill. com).

The U.S. government, the FDIC was formed in 1933, after numerous bank failures during the Great Depression. Many families lost their investments. The FDIC should be to such disasters in the future by protecting the consumer to prevent deposits. Financed by insurance premiums from banks and investments, the FDIC can help customers its losses when an insured bank fails.

“As consumers financial security is so crucial for the stability of families today, we have implemented Six facts to help consumers understand how, the FDIC – and not – to protect their resources,” said Housser

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1 What is covered: FDIC insurance covers checking and savings accounts, money market accounts, certificates of deposit (CDs) and bank checks outstanding and other financial instruments with a bank in value by 0000th Auditors (The National Credit Union Share Insurance Fund performs similar work for credit unions.) Several banks are considered separately. A person can be 0.000 to each of the two banks and insured for a total of 0,000. Retirement accounts such as individual retirement accounts (IRAS) and Keogh plans are generally separately until 0000.

2 What is not covered: risk investments such as stocks, bonds and mutual funds are not insured. Prospectuses of these funds are know to have warning investors that they are a risk with their money and the funds are not guaranteed. U.S. government bonds by the federal government, not the FDIC secured. Insurance and annuities are investments, not deposits. The contents of the safe are not covered or which should be in a safe environment of a bank safe deposit lease be given.

3 When the FDIC steps: the FDIC class banking organizations by their level of equity or the amount of their assets. If a bank is “undercapitalized,” the FDIC can impose changes in the management of the bank to. When a bank rejects a certain level, the FDIC declare bankruptcy. In the event of insolvency, funds can be reimbursed directly from the account holders, or they can be supported by a bank open. In the latter case, in fact, the account of the former bank would be closed and opened in the same amount to another bank.

4 How often banks become insolvent: During the 1980s, savings and loan crisis was for many S & L institutions became insolvent – an episode that may still fresh in the memory of consumers. But banks rarely fail. Only 26 banks have been in the United States 1 October 2000 closed. In the past three years, only one institution has failed.

5 When to worry: “You worry if your bank does not cover the use of the facility designated by the FDIC logo,” Housser warned. Research for the FDIC at www.fdic.gov participating banks. “So if you have big accounts, make sure you have sufficient coverage by visiting the Electronic Deposit Insurance http://www2.fdic.gov/edie/ have forecast.”

6 How safe to stay. “For most of us are the limits for the current account sufficient funds for retirement are more likely to bring people the danger zone,” said Housser. “Be sure that the funds are held in checking and savings accounts are protected by the FDIC. For retirement accounts in covered or accounts does not exceed the limit of the institution. Remember, the best investment advice is to make the kinds of risks and between institutions. “

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details Housser suggested that consumers with their financial adviser. “The last thing anyone needs is the money they thought was sure to lose hidden in the bank, he added. Fortunately for the Americans, the FDIC offers yet another tool to make the most of our financial options .

in San Mateo, California, is a free Bills.com one-stop online portal where consumers educate themselves about complex personal finance issues and comparison of products and services including credit cards, debt relief assistance, insurance, mortgages and other loans. The company blogs on issues of consumer credit in http://www.bills.com/blog. Since 2002, Bills.com and its partner, the Freedom Financial Network, serves over 15,000 customers nationwide while managing more than 0 million of consumer debt. Co-Founder and Managing Director, Andrew Housser and Brad Stroh, were named Northern California finalists in Ernst & Young 2006 Entrepreneur of the Year. “


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