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Does the Federal Deposit Insurance Corp still exist?

Answer:
Yes, it does. It is an arm of the federal government, and not truly "insurance". Instead, it is more in the nature of a bail-out fund that the government operates to make whole, to a statutory limit, depositors in failed banks.

When the FDIC determines that a bank is failing, it may attempt to salvage it by appointing itself as a receiver to run it and get it back on its feet. If that is not possible, the bank will be liquidated.
First answer by Anacanapanastan. Last edit by Anacanapanastan. Contributor trust: 200 [recommend contributor recommended]. Question popularity: 1 [recommend question].

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