The deposit insurance fund controlled by the FDIC protects

Question

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The deposit insurance fund controlled by the FDIC (Federal Deposit Insurance Corporation) protects consumer deposits in insured banks up to a certain amount (currently $250,000 per depositor per insured bank). This protects individual consumers and businesses that have deposits in insured banks against loss due to bank failures or other issues. The fund is financed by premiums paid by banks and is designed to ensure confidence in the banking system and prevent runs on banks.

The Deposit Insurance Fund Controlled by the FDIC Protects