Welcome to Southern States Bank's News portion of our website. Here you can stay up-to-date with all of the bank happenings and important announcements.
NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will [...]
EDIE lets consumers and bankers know, on a per-bank basis, how the insurance rules and limits apply to a depositor’s specific group of deposit accounts—what’s insured and what portion (if any) exceeds coverage limits at that bank. EDIE also allows [...]
In Accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, from December 31, 2010 through December 31, 2012, all funds in “noninterest-bearing transaction accounts” are insured in full by the Federal Deposit Insurance Corporation. This unlimited coverage is [...]