💨 Abstract
The Federal Deposit Insurance Corporation (FDIC) is a U.S. government agency established in 1933 to maintain stability in the nation's financial system. Its primary function is to insure deposits at member banks up to $250,000 in the event of bank failure. The FDIC also regulates U.S. financial institutions and props up "too big to fail" institutions.
Courtesy: wtop.com
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