What is FDIC?
FDIC is originally known by the name of Federal Deposit Insurance Corporation, It is a governmental insurance corporation. The corporation was established in the year 1933 as there were bank runs in the 1930s because of not having insurance on deposits at banks and these financial institution keeps some amount of deposits in reserve which in return makes their customers at risk of losing the money which they had depod in the bank before if the shuts down. Following this situation the President of the country at that time Franklin D. Roosevelt signed the Banking Act of 1933 for the establishment of this corporation. The corporation provides a cover of $250,000 for an individual for each deposit ownership category in each insured bank.
Important Services And Features of The FDIC
- Deposit Insurance; EDIE Online Calculator, Understanding Deposit Insurance, And Much More.
- Consumer Protection; Financial Education And Literacy, Community Affairs, And many other Services as well.
- Industry Analysis; Bank Data And Statistics, Research And Analysis, International Deposit Insurance, And Much More.
Social Media Networking links of FDIC
Customers can get the more and desired information about Federal Deposit Insurance Corporation on below social networking pages:
Facebook link of FDIC is: https://www.facebook.com/FDICgov
Twitter link of FDIC is:https://twitter.com/FDICgov
LinkedIn link of FDIC is: https://www.youtube.com/user/FDICchannel