The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system by:
- insuring deposits,
- examining and supervising financial institutions for safety and soundness and consumer protection, and
- managing receiverships.
Definition from Nolo’s Plain-English Law Dictionary
A federal agency that promotes public confidence in the U.S. financial system by insuring deposits in banks and by limiting the effect on the economy when a bank fails.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:16 pm