Federal Deposit Insurance Act

Federal Deposit Insurance Act
Federal Deposit Insurance Act (FDIA)
USA
The federal statute that, among other things:
• Establishes and sets the powers, responsibilities, and administration of the Federal Deposit Insurance Corporation (FDIC).
• Establishes the Deposit Insurance Fund.
• Sets the rules for banks to be insured by the FDIC.
• Sets safety and soundness standards for all insured banks.
• Regulates certain transactions and operational activities of all insured banks.
• Regulates the permissible business activities of insured state banks.
(12 U.S.C. §§ 1811-1835a.)

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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