Financial Regulation
Financial Regulation
smart spending
7 hidden gems of financial reform

SIPC maximum cash advance raised (Sec. 929)
Next
5 of 9
Back
SIPC maximum cash advance raised to $250,000 (Sec. 929)

The Securities Investor Protection Corp. will provide a higher level of protection to those who hold accounts in SIPC-insured financial institutions than in the past. When a brokerage or other such investment house fails, the SIPC returns stocks, bonds and other securities to their registered owners immediately.

However, sometimes a failed firm's assets need to be audited and liquidated to reimburse account holders. While that process is taking place, the SIPC sends cash advances to those waiting for the return of their assets.

In the past, the amount of a cash advance was limited to $100,000, regardless of the amount the former accountholder had coming to him. However, with the passage of financial reform, the limit has risen permanently to $250,000.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 4.01%  0.19 4.20%
15 year fixed refi 3.09%  0.08 3.17%
10 year fixed refi 3.16%  0.02 3.14%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.32%  0.02 4.30%
50K FICO-based HELOC 4.06% --0.00 4.06%
100K FICO-based HELOC 3.92%  0.01 3.91%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.81% --0.00 2.81%
48 month used car loan 3.04% --0.00 3.04%
60 month new car loan 3.24% --0.00 3.24%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 1.00%  0.02 0.98%
2 Year CD 1.19%  0.02 1.17%
5 Year CD 1.85% --0.01 1.86%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.73%  0.02 15.75%
Cash Back Cards 16.43%  0.02 16.45%
Low Interest Cards 10.98%  0.02 10.96%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us