FDIC

Banking & Credit

The Federal Deposit Insurance Corporation (FDIC) is an independent US government agency created in 1933 (Banking Act) to maintain stability and public confidence in the banking system. The FDIC insures deposits up to $250,000 per depositor per bank, examines and supervises financial institutions, and manages bank failures by either selling them to healthy banks or directly paying out insured deposits. The FDIC has never failed to pay an insured depositor. Funded by member bank premiums, not taxpayer dollars. Always verify your bank's FDIC membership at FDIC.gov — non-member banks (rare) don't offer this protection.