WASHINGTON - The Federal Deposit Insurance Corp. has started a Web site designed to help deposit brokers get faster confirmation that their investors' money is insured.
The brokers typically deposit pools of investors' money in banks offering high interest rates. They structure their investments so that no individual's stake in a single bank exceeds the FDIC's coverage limit of $100,000 per person.
The site, which was unveiled Monday, offers brokers access to the forms necessary to apply for insurance on behalf of investors in custodial investment accounts, as well as information about the FDIC regulations that cover brokered deposits.
The address is www.fdic.gov/deposit/deposits/brokers.
