News

FDIC Insurance Notice

Community National Bank of the Lakeway Area is participating in the FDIC's Transaction Account Guarantee Program a component of the Temporary Liquidity Guarantee Program. Under that program, through December 31, 2009 all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.

FDIC Insurance Coverage Extension of Temporary Increase in Standard Maximum Deposit Insurance Amount On May 20, 2009, President Barack Obama signed the Helping Families Save Their Homes Act, which extends the temporary increase in the standard maximum deposit insurance amount (SMDIA) to $250,000 per depositor through December 31, 2013. This extension of the temporary $250,000 coverage limit became effective immediately upon the President's signature. The legislation provides that the SMDIA will return to $100,000 on January 1, 2014.

Please click here to visit the FDIC website.

Internet Gambling Notification

The Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 prohibits any person engaged in the business of betting or wagering, as defined in the Act, from knowingly accepting payments in connection with the participation of another person in unlawful Internet gambling. The Department of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.

As defined in Regulation GG, unlawful Internet gambling means to "..place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the Internet where such bet or wager is unlawful under any applicable Federal or State law or tribal lands in which the bet or wager is initiated, received or otherwise made".

Please be advised that as a customer of Community National Bank of the Lakeway Area, unlawful Internet gambling transactions are prohibited from being processed through your account or banking relationship with us.

Community National Bank of the Lakeway Area will not open accounts for customers engaged in any Internet Gambling Business, including legal Internet gambling businesses. In the event the Bank receives actual knowledge that the Bank's commercial customer is engaged in an Internet Gambling Business, Bank's management will close the commercial customer's account.

Please contact our customer service representatives at Community National Bank of the Lakeway Area, P. O. Box 1919, Morristown, TN 37816, or call 1-877-587-2343 if you would like additional information on UIGEA or Regulation GG.