FDIC-proposed amendments to deposit insurance coverage rules that would simplify and expand deposit insurance for trusts and mortgage accounts were published in the Federal Register. The proposed amendments would (i) merge revocable trusts and irrevocable trusts under a newly established "trust accounts" category and (ii) provide consistent treatment for mortgage servicing accounts comprised of principal and interest funds.
Comments on the proposal must be received by October 4, 2021.
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