What does FDIC mean in Insurance?

This page is about the meanings of the acronym/abbreviation/shorthand FDIC in the Business field in general and in the Insurance terminology in particular.

The Federal Deposit Insurance Corp

FDIC – The Federal Deposit Insurance Corp. Since banks were widely distrusted after the many bank failures during the depression, this alphabet agency was created to encourage public confidence in saving money in banks by insuring customers against losses of up to $5,000 if the bank would happen to fail. Read more at http://abbreviations.yourdictionary.com/articles/list-of-commonly-used-abbreviations.html#EjQJZtMJF7syP41k.99

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Definition

What does FDIC mean?

Federal Deposit Insurance Corporation, FDIC(noun)
a federally sponsored corporation that insures accounts in national banks and other qualified institutions

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"FDIC." Abbreviations.com. STANDS4 LLC, 2020. Web. 12 Jul 2020. <https://www.abbreviations.com/term/1842588>.

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