FDIC

The FDIC, or Federal Deposit Insurance Corporation, is an independent agency of the U.S. government that plays a crucial role in safeguarding the stability and integrity of the banking system. It accomplishes this by providing deposit insurance, conducting bank examinations, and promoting consumer protection. The FDIC's deposit insurance program protects depositors' funds in case of bank failures, ensuring that individuals and businesses have access to their insured deposits up to the coverage limit. This helps maintain public confidence in the banking system and supports the overall stability of the financial industry.