The Federal Deposit Insurance Corporation (FDIC) is an insurance agency that is supported by the government in the United States. True or False

Respuesta :

Answer:

True

Explanation:

  • The federal Deposit Insurance Corporation (FDIC) is an agency of the government that has the duty of protecting consumers and the entire American financial system
  • Among its functions is, deposit insurance, this, helps consumers of bank services to avoid loses in the event that a bank fails.
  • Banks are in business with the consumer deposits, this is where they obtain the interest they add on a consumers deposits. Being a business, it might therefore fail. In case of this, the FDIC steps in to the aid of the consumer, to pay the amount the bank owes them.

The Correct Answer: True

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