Quote by Nick Clooney

What the F.D.I.C. does is to put the full faith and credit of the United States government behind every savings account in the nation, up to a limit that has changed over the years and stands now at $100,000.


What the F.D.I.C. does is to put the full faith and credit o

Summary

This quote explains the role of the Federal Deposit Insurance Corporation (FDIC) in providing financial security to savings account holders in the United States. The FDIC guarantees the safety of deposits by backing them with the full support and credit of the US government. If a bank fails, the FDIC ensures that account holders receive their insured funds up to a specified limit, currently set at $100,000. This system increases confidence in the banking system and provides reassurance to individuals that their savings are protected.

Topics

Faith
By Nick Clooney
Liked the quote? Share it with your friends.

Random Quotations