How does the Federal Deposit Insurance Company (FDIC) protect bank customers?

The FDIC insures deposits at participating banks, protecting customers’ money if a bank fails. For example, it generally covers eligible deposits up to the insurance limit per depositor, per insured bank. It does not provide personal loans, replace credit cards, or send checkbooks, so the correct choice is “If a bank has a financial crisis, the FDIC safeguards its customers’ accounts.”

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