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FDIC Releases SOD Data JD Supra11:55 2-Oct-23
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2 Oct 22:00

About our FDIC news

Latest news on the Federal Deposit Insurance Corporation (FDIC), a US government agency that was established in 1933 to provide deposit insurance to depositors in US banks. The FDIC's primary role is to protect depositors and maintain public confidence in the US banking system.

The FDIC accomplishes its mission by insuring deposits in banks and savings associations up to a certain amount, currently $250,000 per depositor per bank. This means that if a bank were to fail, depositors would be guaranteed to receive their insured deposits back, up to the coverage limit.

In addition to deposit insurance, the FDIC is responsible for regulating and supervising banks and savings associations to ensure their safety and soundness, as well as to protect consumers from abusive or deceptive practices. The FDIC also serves as a receiver for failed banks, taking over the bank's assets and liabilities and working to ensure a smooth transition for depositors and other stakeholders.

The FDIC is an independent agency of the US government and is funded through premiums paid by insured banks and savings associations, as well as through investment income and other sources.

This feed updates continuously 24/7 so check back regularly. Relevance is automatically assessed, so occasionally headlines not about FDIC news might appear - if so please contact us regarding any persistent issues.

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