What is FDIC Insurance? How Does it Work? #Shorts

If your federally insured bank fails, FDIC insurance will cover your deposits up to a certain amount, FDIC insurance also includes joint accounts.

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[markbrown]

Fun fact - the FDIC was started in 1933 during the deepest portion of the Great Depression, with banks failing almost daily in the US alone. The FDIC says since then, no one has lost any money due to the failure of a bank it has insured.