BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Federal Deposit Insurance Act
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Electronic Funds Transfer Act
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Thrift and Bank Fraud Act
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Home Equity Loan Consumer Protection Act
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Detailed explanation-1: -FDIC deposit insurance covers the balance of each depositor’s account, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest through the date of the insured bank’s closing.
Detailed explanation-2: -COVERAGE LIMITS The standard insurance amount is $250, 000 per depositor, per insured bank, for each account ownership category.
Detailed explanation-3: -The Federal Deposit Insurance Corporation (FDIC) is an independent federal government agency which insures deposits in commercial banks and thrifts. Federal deposit insurance is mandatory for all federally-chartered banks and savings institutions.
Detailed explanation-4: -The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system.