What does FDICIA mean? Read on to discover the definition & meaning of the term FDICIA - to help you better understand the language used in insurance policies.
The Federal Deposit Insurance Corporation Improvement Act (FDICIA) is a law passed on December 19, 1991 to grant more powers to the Federal Deposit Insurance Corporation (FDIC). The main objectives of FDICIA are to require the least costly resolutions of insured depository institutions, improve the supervision and examination of insurance businesses, and grant additional resources to the Bank Insurance Fund.
We hope the you have a better understanding of the meaning of FDICIA.