Flagstar bank is a member of the FDIC and deposits are FDIC insured up to $250000 per account.

The FDIC started in 1929 as a result of the depression

The FDIC is a government-owned corporation, which means everybody does :)

Yes, Sterling Bank is FDIC insured. All non-interest amounts in your account will be guaranteed by the FDIC.

The FDIC stands for Federal Deposit Insurance Corporation. The FDIC's role is to insure depositers up to a certain amount of money. They previously insured up to $100,000 however recently changed it to $250,000. The FDIC's job is guarentee that people's money is safe within their bank. If a bank is FDIC insured there should be signs within the bank with an FDIC logo on it.