FDIC (Federal Deposit Insurance Corporation)

The Federal Deposit Insurance Corporation (FDIC) is a U.S. government agency that protects bank depositors by insuring their deposits. If a bank fails, the FDIC guarantees that customers will get back up to $250,000 per depositor, per bank, for their accounts. This helps maintain public confidence in the banking system and encourages savings. The FDIC also monitors and regulates banks to promote safe banking practices, reducing the risk of bank failures and protecting the economy. In short, the FDIC helps ensure that your money is safe in the bank.