The Federal Deposit Insurance Corporation (FDIC)

The Federal Deposit Insurance Corporation (FDIC) is a U.S. government agency that protects bank depositors by insuring deposits at member banks. If a bank fails, the FDIC ensures that depositors are reimbursed up to $250,000 per account holder, per bank. This insurance helps maintain public confidence in the financial system by assuring people that their money is safe, promoting stability in banking. The FDIC also oversees financial institutions to promote sound banking practices and prevent bank failures.