The Federal Deposit Insurance Corporation

FDIC (Federal Deposit Insurance Corporation - FDIC) to build public confidence in the financial system in the United States and is responsible for insuring deposits in banks for an amount not less than $ 250,000. The Federal Deposit Insurance Corporation  identify, monitor and eliminate risks via the Deposit Insurance Fund, as well as trying to limit the impact on the economy of interference caused by the bankruptcy of banks and other credit institutions.
The Federal Deposit Insurance Corporation  was created in 1933 as an independent agency of the Federal Government, in response to the thousands of bankruptcies that occurred in the 1920s and early 1930s. Since then, as the FDIC to January 1, 1934 start of insurance activities, no depositor has lost a cent of insured funds.

The Federal Deposit Insurance Corporation  receives no appropriations from Congress, an organization funded by contributions from banks and charities that have benefited from insurance coverage and income from investments in US Treasury securities. FDIC insures about $ 9 trillion. deposits in US banks and other credit institutions, under the protection of its deposits are located in almost every bank.
The standard insurance amount is $ 250 000 per depositor in each insured bank, for each account ownership category. Electronic Deposit Insurance Estimator (Online FDIC) can help you determine whether you have the account the contribution under the appropriate conditions of insurance.
The Federal Deposit Insurance Corporation  insures deposits only. The organization does not insure securities funds, mutual funds or similar types of investments from those that can offer banks and savings institutions. Distinguish between an insured and uninsured investments on the basis of the relationship to the FDIC.
The Federal Deposit Insurance Corporation  directly examines and supervises more than 4,500 banks and savings banks for operational safety and reliability, and that more than half of the institutions that took place in the banking system. Banks may be established by states or the federal government. The banks, state agencies have the choice to join or not to join the Federal Reserve System. FDIC - primary federal regulator of banks, which are established states, and which do not belong to the Federal Reserve System. In addition, FDIC - Reserve Inspector remaining insured banks and economic institutions.
FDIC banks also checks for compliance with the legislation on consumer protection (Fair Credit Billing Act, Fair Credit Reporting Act) and for compliance with the Law on Credit (Fair Debt Collection Practices Act). Finally, FDIC bank checks for compliance with the act of Community Reinvestment Act (CRA), which requires banks to meet the credit needs of the communities in which they were licensed.
The Federal Deposit Insurance Corporation  takes an instant reaction to protect insured depositors when a bank, savings bank or other credit institution can not do anything for ourselves. Institutions tend to lock their body - the state regulator, or management control of monetary circulation. The Federal Deposit Insurance Corporation  has several options for addressing the financial institution, but in practice the most widely used sales deposits and loans being closed bank to another bank. Customers first bank will automatically become customers of the second bank.
The Federal Deposit Insurance Corporation employs more than 7,000 people. Headquartered in Washington, DC, but most of his work in the corporation conducts six regional offices, temporary offices and field offices throughout the country.
FDIC governed by a Board of Directors consisting of five members, each of whom is appointed by the president and confirmed by the Senate, no more than three to one political party.