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Article: Regions Financial Extends Participation in FDIC Transaction Account Guarantee Program.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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Regions Financial (NYSE: RF) announced plans to extend its participation in the Federal Deposit Insurance Corporation's (FDIC) voluntary Transaction Account Guarantee (TAG) portion of the Temporary Liquidity Guarantee Program through June 30, 2010.
Under this program, noninterest bearing transaction accounts, qualified NOW checking accounts paying less than 0.50 percent, and Interest on Lawyers Trust Accounts (IOLTA) are fully guaranteed by the FDIC for an unlimited amount of coverage. The coverage under the TAG program is in addition to, and separate from, the coverage available under the FDIC's general deposit insurance protection.
"Since the economic ...