ECONOMICS
MONEY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
NCUA
|
|
|
FDIC
|
|
|
FTIC
|
|
|
NAACP
|
Detailed explanation-1: -The Federal Deposit Insurance Corporation (FDIC) protects consumers against loss if their bank or thrift institution fails. Not all institutions are insured by the FDIC. Eligible bank accounts are insured up to $250, 000 for principal and interest. The FDIC does not insure share accounts at credit unions.
Detailed explanation-2: -A: Deposit products include checking accounts, savings accounts, CDs and MMDAs and are insured by the FDIC. The amount of FDIC insurance coverage you may be entitled to, depends on the ownership category.
Detailed explanation-3: -FDIC. Both the NCUA and FDIC are responsible for insuring funds in the event that a financial institution fails. The NCUA insures credit union accounts, while the FDIC provides federal insurance for bank accounts.
Detailed explanation-4: -The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships.
Detailed explanation-5: -Checking accounts. Negotiable Order of Withdrawal (NOW) accounts. Savings accounts. Money market deposit accounts (MMDA) Time deposits such as certificates of deposit (CDs) Cashier’s checks, money orders, and other official items issued by a bank. 13-Sept-2022