Most checkable deposits are insured up to $250,000 by
A)state banking commissions.
B)the Federal Reserve Board.
C)the U.S.Department of the Treasury.
D)the Federal Deposit Insurance Corporation.

Question

Quizplus · Accepted Answer

Checkable deposits are insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC). This means that if a bank fails and cannot return the deposits to its customers, the FDIC will step in and provide deposit insurance to protect the customers' deposits up to the insured limit.

Most Checkable Deposits Are Insured Up to $250,000 by