Answer:
c) A government insurance program that will pay back account holders if the bank or lending institution fails
Explanation:
The FDIC is an acronym for Federal Deposit Insurance Corporation. It was founded by Franklin Roosevelt on the 16th of June, 1933.
FDIC is a government insurance program that will pay back account holders if the bank or lending institution fails.
The income generated from the premium payments of insured banks is used to fund or finance the FDIC.
Answer: A government insurance program that will pay back account holders if the bank or lending institution fails(C)
Explanation:
The Federal Deposit Insurance Corporation is an independent federal agency that insures deposits in United States banks and thrifts in case of bank failures. The Federal Deposit Insurance Corporation was created in order to maintain public confidence and also encourage stability in financial system by promotng sound banking practices.
The Federal Deposit Insurance Corporation preserves public confidence by insuring deposits for at least $250,000 and also identifying and addressing risks in the financial system.
