Mutual funds sold by a bank are insured by the federal government.

Name: Mutual funds sold by a bank are insured by the federal government.
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Mutual funds are not insured by the federal government. They are investment securities and their value can fluctuate based on market conditions. However, bank deposits such as savings accounts and certificates of deposit (CDs) are insured by the Federal Deposit Insurance Corporation (FDIC).

Mutual Funds Sold by a Bank Are Insured by the Federal