The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) provided temporary unlimited deposit insurance coverage for noninterest-bearing transaction accounts from December 31, 2010 through December 31, 2012. This unlimited coverage is separate from, and in addition to, the insurance coverage provided for a depositor's other accounts held at an FDIC-insured depository institution.
Absent a change in law, effective January 1, 2013 noninterest-bearing transaction accounts no longer will be insured by the FDIC as a separate ownership category. Thereafter, such deposits will be aggregated with any other deposits held by the same owner in the same ownership category, with the total insured up to the standard maximum deposit insurance amount, which currently is $250,000.
Visit http://fdic.gov/deposit/ for more information.