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| Vertical Industries > Financial Services Industry > |
Banking Industry
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ALSO CALLED: Banking and Finance Industry, Wholesale Banking Industry, Banking, Internet Banking Industry, Commercial Banking Industry, Online Banking Industry, Financial Services and Banking Industry, Credit Unions, Electronic Banking Industry, Investment Banking, and Retail Banking Industry
DEFINITION: The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States (U.S.) federal government that preserves public confidence in the banking system by insuring deposits. The FDIC is headquartered in Washington, DC, with several regional offices and numerous field offices throughout
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BANKING INDUSTRY DEFINITION (continued): … the U.S. The agency is managed by afive-person Board of Directors, all of whom are appointed by the President and confirmed by the Senate, with no more than three being from the same political party. The FDIC was created during the Great Depression of the 1930s in response to widespread bank failures and massive losses to bank customers. The funds for the agency are provided in the same way as the funds for a private insurance company but on a larger scale. Premiums are paid by all participating …
Banking Industry definition sponsored by SearchFinancialSecurity.com, powered by WhatIs.com an online computer dictionary
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