FDIC & Other Notices
Notice Of Changes In Temporary FDIC Insurance
NOTICE OF EXPIRATION ON THE TEMPORY FULL FDIC INSURANCE COVERAGE FOR NON-INTEREST BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a non-interest bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of the depositer's accounts at an insured depository institution, including all non-interest bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
For more information about FDIC insurance coverage of noninterest bearing transaction accounts, visit www.fdic.gov/deposit/deposits/unlimited/expiration.html.
Expanded FDIC Insurance
Each depositor insured to at least $250,000.
Other Notices:
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) was passed on July 30, 2008. The act was implemented to improve consumer protection and reduce fraud by requiring minimum standards for the licensing and registration of Mortgage Loan Originators (MLOs). An MLO is an individual who takes a residential mortgage loan application and offers or negotiates terms of a residential mortgage loan for compensation or gain. The Citizens State Bank and the MLOs who work for our institution are registered with the Nationwide Mortgage Licensing System and Registry (NMLS). Please visit www.nmlsconsumeraccess.org for further information concerning the registration of Citizens State Bank and our mortgage loan orginators. Our unique identifiers are as follows:
Citizens State Bank: 623900
Aren McBride: 1478339
Alexandra Turner: 2355891
Unlawful Internet Gambling Transactions Prohibited
If you are a commercial customer, you certify that you are not now engaged in, and during the life of this Agreement will not engage in, any activity or business that is unlawful under the Unlawful Internet Gambling Enforcement Act of 2006, 31 USC 5361, et seq., (the “UIGEA”). You may not use your Account or any other service we offer to receive any funds, transfer, credit, instrument or proceeds that arise out of a business that is unlawful under the UIGEA. You agree that if anyone asks us to process a transaction that we believe is restricted under the UIGEA, we may block the transaction and take any other action we deem to be reasonable under the UIGEA and this Agreement.
USA Patriot Act Affects New Accounts
To help the government fight the funding of terrorism and money laundering activities, Federal Law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
