Did You Know Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member.

Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member.

Deposit Insurance Corporation •June 10, 2014

Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.

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