What Does Fdic Insurance Mean?

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What does Fdic Insurance mean? Read on to discover the definition & meaning of the term Fdic Insurance - to help you better understand the language used in insurance policies.

Fdic Insurance

Fdic Insurance

Insurance policy provided by financial institutions affiliated with the FDIC. Under this policy, consumers' deposits are covered up to $250,000 if the bank becomes insolvent. This insurance is backed by the tax authority of the United States. The amount was extended from $150,000 to $250,000 during the financial crisis of 2008 as consumers raised concerns over unstable banks.

We hope the you have a better understanding of the meaning of Fdic Insurance.

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