FDIC

The FDIC (Federal Deposit Insurance Corporation) is a U.S. government agency that protects your money in bank accounts. If a bank fails or closes unexpectedly, the FDIC ensures you get back up to $250,000 per depositor, per insured bank. This insurance helps maintain confidence in the banking system and encourages people to save and trust their banks without fearing losing their funds. The FDIC also regulates and supervises financial institutions to promote stability and protect consumers, making sure banks operate safely and soundly.