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The Online Advisor - June 1999
Joint Accounts Get More Protection
If you have a joint bank account, you now have more insurance protection if the bank fails. The Federal Deposit Insurance Corporation used to insure bank accounts up to $100,000, including joint accounts. Now you're insured for up to $100,000 of your share in a joint bank account.
Though bank failures are rare enough to create only minor concern, the added protection is still good to know about for your financial planning.