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Explain FDIC Insurance

[Summary]FDIC: Understanding Deposit Insurance The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. FDIC insurance is backed by th

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FDIC: Understanding Deposit Insurance

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has lost a penny of FDIC-insured funds.

FDIC: Deposit Insurance FAQs

Deposit Insurance FAQs

Q: What is the FDIC?

A: The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

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Federal Deposit Insurance Corporation

Martin J. Gruenberg, Chairman

Federal Reserve System

Monetary policy

Credit card

Money-market

Certificate of deposit

Check 21 Act

Wire transfer

Substitute check

Automated Clearing House (ACH)

Bill payment

Credit union

Federal savings bank

Federal savings association

National bank

The FDIC's satellite campus in Arlington, Virginia, is home to many administrative and support functions, though the most senior officials work at the main building in Washington

[Editor: Admin]
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