How are banks insured?
How are banks insured?
The Federal Deposit Insurance Corp. (FDIC) is the agency that insures deposits at member banks in case of a bank failure. FDIC insurance is backed by the full faith and credit of the U.S. government. The FDIC insures up to $250,000 per depositor, per FDIC-insured bank, per ownership category. Aug 11, 2021
