What is another word for federal deposit insurance corporation?
Pronunciation: [fˈɛdəɹə͡l dɪpˈɒsɪt ɪnʃˈʊ͡əɹəns kˌɔːpəɹˈe͡ɪʃən] (IPA) 
The Federal Deposit Insurance Corporation (FDIC) is an independent federal agency that provides insurance on deposits at banks and savings associations. Synonyms for FDIC include "federal insurance agency," "deposit insurance corporation," and "federal savings and loan insurance corporation." While the names may vary, the purpose remains the same: to maintain public confidence in the nation's banking system by protecting depositors from financial loss if their bank fails. The FDIC has been in existence since 1933 and continues to be a vital component of the U.S. financial system. By guaranteeing deposits up to a certain amount, the FDIC helps promote stability, confidence, and trust in the banking sector, ultimately benefiting consumers and businesses alike.
