The Federal Deposit Insurance Corporation (FDIC) is a government agency created to protect depositors and promote stability in the banking system. It achieves this by insuring deposits in participating banks and thrift institutions up to $250,000 per depositor, per insured bank. The FDIC also monitors and regulates financial institutions to ensure their safety and soundness. FDIC's role impacts individuals by providing confidence in the banking system, ensuring their deposits are protected even in the event of a bank failure, and promoting a stable financial environment.
