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NCUA makes 250k acct. insurance permanent
ALEXANDRIA, Va. (9/20/10)--The National Credit Union Administration (NCUA) late last week made permanent its $250,000 account coverage limit. The NCUA action codifies changes that occurred with the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act in July. The account coverage is provided by the NCUA’s National Credit Union Share Insurance Fund (NCUSIF). The $250,000 coverage limit would have expired on Dec. 31, 2013. In a Friday release, NCUA Board Chairman Debbie Matz said that the coverage enchancement provides “an extremely visible and important benefit to consumers.” Noting the NCUA's pending work with financial expert Suze Orman, Matz added that the NCUA “is committed to making sure that the financial public is fully aware of the newly permanent $250,000 limit.”
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