FDIC: Information for Prospective Outside Counsel


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Information for Prospective Outside Counsel

The FDIC – Its History and Mission

The FDIC was chartered by the United States Congress in 1933 to promote and maintain public confidence in the nation’s banking system. The FDIC’s functions include: oversight of the safe and sound operation of insured depository institutions; resolution of financially troubled or insolvent institutions; managing the assets and liabilities of failed insured depository institutions; honoring the FDIC’s insurance obligations; prosecuting and defending litigation related to the FDIC’s operations; and ensuring compliance with applicable laws and regulations.

Each depositor insured to at least $250,000 per insured bank