Question

What does “FDIC” stand for? a. Financial Deposit Institute of Congress b. Financial Deposit Insurance Commission c. Federal Deposit Investigation Council d. Federal Deposit Insurance Corporation

Answer 1

D, Federal Deposit Insurance Corporation.

Answer 2

Answer: d. Federal Deposit Insurance Corporation

Explanation:

The term “FDIC” stands for Federal Deposit Insurance Corporation.

• The Federal Deposit Insurance Corporation (FDIC) is an self-sufficient federal agency providing deposit insurance to depositors in U.S. commercial banks .

• The Federal Deposit Insurance Corporation was established to re-institute trust in the American banking system.