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The Federal Deposit Insurance Corporation (FDIC)
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The Federal Deposit Insurance Corporation (FDIC)
The Federal Deposit Insurance Corporation (FDIC) in an independent agency of the United States Congress that was created in 1933 in a section of the Federal Reserve Act. Itβs main propose is to insure banks in the event of bank failure. In 1950, a section of the act concerning the corporation wa ....
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....insured portion of their funds. They may also receive a portion of their uninsured funds either at that time or as the assets of the failed institutions is liquidated. The major jobs of the corporation are to pay the depositors if an insured bank closes without enough money to pay the claims of its depositors. The Corporation also regularly exam.... |
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Page count: 2 |
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