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Q: What is the purpose of FDIC insurance and do you think it is effective in reducing the fears of depositors?
A: The FDIC collects premiums from member banks to fund an account, the Deposit Insurance Fund (DIF), which covers depositors for any losses resulting from bank failure. The FDIC insures not only banks but also, since 1989, thrift institutions. [ Yes it is effective because the insurance will help you just in case. ]
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User: What is the purpose of FDIC insurance and do you think it is effective in reducing the fears of depositors?

Weegy: The FDIC collects premiums from member banks to fund an account, the Deposit Insurance Fund (DIF), which covers depositors for any losses resulting from bank failure. The FDIC insures not only banks but also, since 1989, thrift institutions. [ Yes it is effective because the insurance will help you just in case. ]
Expert answered|xtina_008|Points 10|

User: How can FDIC insurance help me out?

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Asked 9/13/2011 8:48:00 AM
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