The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government that is responsible for promoting public confidence in the financial system by insuring deposits for up to $250,000 per customer per bank.

The FDIC was formed in 1933 as thousands of bank failures caused runs on the banking system during the Great Depression.

The FDIC is headquartered in Washington, D.C. and employs about 4,500 people. It is managed by a five person Board of Directors appointed by the President.

Visit the FDIC website.