US Officials Contemplate Extending Deposit Insurance Coverage to More Accounts
US Officials Contemplate Extending Deposit Insurance Coverage to More AccountsDeposit insurance coverage is a crucial aspect of the banking system that provides protection to depositors in the event of a bank failure. The Federal Deposit Insurance Corporation (FDIC) is the primary agency responsible for insuring deposits in US banks and thrift institutions. The FDIC provides coverage of up to $250,000 per depositor, per insured bank, for each account ownership category. However, there are certain types of accounts that are not covered by FDIC insurance, such as trust accounts and business