Is FDIC insurance for deposits up to $250,000 a good or bad for America?

Expert Solution

Federal deposit insurance corporation established in 1933 to provide insurance of savings , checking , certificate of deposit accounts up to $250,000. It is good as it gives the insurance against the bank failure. If bank goes bankrupt or unable to pay back then in that case the customer can get up to $250,000 from FDIC. So for the customers who have less than $250,000 in their account they are relatively safer as their full money is insured and the customers who have higher than $250,000 they will not get only $250,000. So it is not covering the whole deposit money.

jeff jeffy answered 2 years ago

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