Deposit Insurance Corporation (FDIC)

The Federal Deposit Insurance Corporation (FDIC) is a U.S. government agency that protects bank customers by insuring deposits up to a certain limit, currently $250,000 per depositor per bank. If a bank fails financially, the FDIC steps in to ensure depositors still receive their money, helping maintain trust in the banking system. It manages the resolution of failed banks, promotes safe banking practices, and works to ensure stability within the financial industry. This insurance provides confidence for individuals and businesses to deposit funds without fear of losing their money if a bank encounters difficulties.