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Federal Deposit Insurance Corporation - where did it come from?
Wiki User
∙ 13y ago
FDIC stands for Federal Deposit Insurance Corporation. The purpose of this is to provide "Deposit Insurance" which guarantees the safety of cash deposited in its member banks, currently up to US $ 250,000 per depositor per bank. Currently FDIC insures deposits at more than 7500 institutions in the USA. This is to ensure that customers do not lose out their hard earned money in case of bank failures or bankruptcy.
It came from the United States of America.
Wiki User
∙ 13y ago
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