Website FDIConnect.com should not be confused with Federal Deposit Insurance Corporation

May 30, 2019

The Department of Business Oversight (DBO) has been notified of a website, FDIConnect.com, that advertises itself as a bank-deposit broker that can obtain higher interest rates on bank deposits for consumers. FDIConnect.com is not licensed as a bank and is not insured by the Federal Deposit Insurance Corporation (FDIC).  Further, FDIConnect.com should not be confused with FDICconnect.gov, the official FDIC channel for FDIC-insured institutions.  The DBO notes that the choice of lettering in the name of the business and its advertising could be confusing.

The DBO urges consumers to exercise caution before responding to any website seeking deposits or promoting savings accounts or other offers. To check whether a financial service provider is licensed in California, or to file a complaint, go to the DBO website at www.dbo.ca.gov or call 1-866-275-2677.