Federal Deposit Insurance Corporation is a government agency that offers protection in banking by insuring your bank accounts.
The Federal Deposit Insurance Corporation is an independent government agency that was introduced by Congress to maintain the confidence of citizens in the American financial system. Congress created the Federal Deposit Insurance Company to ensure the trust and safety of account holders' money in the bank if the banks are forced to shut down due to a financial crisis.
It was created in 1933 for consumer protection from such bank failures during Great Depression. It is supported by the US government. Account holders can also file complaints about their bank in the FDCI if needed.
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