Almost 650 former customers of ANB Financial at Rogers will receive checks from the Federal Deposit Insurance Corp. in the next several days because of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The act, signed by President Barack Obama on Wednesday, permanently raises the maximum insurance coverage to $250,000 per account. In addition, the FDIC said Wednesday, the act made the increase to $250,000 retroactive to Jan. 1, 2008.
Between Jan. 1, 2008, and Oct. 3, 2008, when the FDIC temporarily raised the limit to $250,000, six banks in the country failed, including ANB.
Read tomorrow's Arkansas Democrat-Gazette for full details.
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