A Federal Deposit Insurance Corp. proposal would require some bank employees to receive training in deposit insurance.
Employees who open new accounts would receive computer-based instruction about insurance rules for different account types.
Employees opening accounts would be required to ask customers about other accounts they may hold at the institution. In cases where a bank finds the customer exceeds the standard coverage limit of $250,000, the institution would have to provide basic literature about deposit insurance options. The public has 60 days to comment on the proposal.
Officials said better awareness is necessary in light of inaccurate information depositors reportedly relied on during the crisis.
"Lack of customer understanding of deposit insurance limits undermines public confidence in the FDIC guarantee which in turn hurts all insured banks and savings institutions," FDIC Chairman Sheila Bair said in a press release Monday. "Bank depositors need access to accurate deposit insurance information so they know how to assure that their deposits are protected in full, while banks benefit from the enhanced comfort level of their customers."
