Senior FDIC Official Promotes National Campaign to Help African Americans Protect Their Money

The Federal Deposit Insurance Corporation (FDIC) has launched an awareness campaign designed to help African American consumers learn more about the benefits of federal deposit insurance and take the necessary steps to make sure their money is protected.

In these economic times, people are very concerned about the safety of their money. Yet, the average American does not know much about FDIC insurance or the new coverage limits that recently went into effect. Historical data indicates that African Americans are likely to be less familiar with FDIC than the general market, but are more interested in learning about it.

For over 75 years, the FDIC has protected the money consumers deposit in accounts at insured financial institutions. In that time, no one has lost a penny of FDIC-insured deposits. Consumers who have $250,000 or less in all of their deposit accounts at the same insured bank don't need to worry about the safety of their money. It's fully covered.

The campaign features radio public service announcements that encourage consumers to make sure their deposits are fully insured by visiting www.fdic.gov or calling 1-877-ASK-FDIC (275-3342). That way, the African American community can learn in-depth about deposit insurance.

By helping to spread this important message, you'll assist millions of African Americans in gaining an understanding of how to use FDIC insurance to protect their money. In times like these, that's information everyone needs.

Sandra L. Thompson, Director, Division of Supervision and Consumer Protection at the FDIC is available for interviews and can answer any questions you may have about the FDIC and deposit insurance. To schedule an interview, or request additional information, please contact Imani Sanders at 202-973-4793 or via e-mail at Imani.Sanders@porternovelli.com.